The tentative agreement on POSCO’s wages and collective bargaining failed to clear the hurdle of a union member approval vote.
The POSCO Labor Union, affiliated with the Federation of Metal Workers under the Korean Confederation of Trade Unions, announced that in the approval vote on the tentative labor-management agreement, which was conducted from 6 a.m. to 5 p.m. on the 7th, 51.7% (4,744 votes) voted against and 4,433 votes (48.3%) voted in favor.
Previously, POSCO management and labor had reached a tentative agreement that included, among other things, △a 2.6% increase in base salary, △a lump-sum payment of 6 million won, △a special promotion of three pay grades, △the payment of 2 million won in holiday bonuses along with 20% of base salary, △additional shift holiday allowances, and △the establishment and increase of resident maintenance allowances.
With the rejection of the tentative agreement, management and labor are expected to engage in further negotiations to reach a new agreement. A POSCO official said, “We will communicate with the union side so that we can find an amicable point of agreement.”
in INDUSTRY
