POSCO union to vote on new wage deal

Members of POSCO's labour union will vote this Saturday on whether to accept an agreement reached with management on wages and working conditions for this year that includes a base wage increase, special pay seniority, lump-sum payments and an expanded housing loan program.

Since launching its campaign on June 12, the labour union of South Korea's largest steel company had held 29 formal rounds of negotiations with management, more than 20 working-level talks, and the company's first strikes in its 58-year history, as Mysteel Global had reported. With the union threatening to launch