SEOUL, Oct. 31 (Yonhap) — POSCO Holdings Inc., South Korea’s leading steel producer, and its labor union have achieved a tentative wage agreement, according to company and union representatives on Tuesday, thus avoiding a strike.
The settlement followed the unionized workers of POSCO voting to go on strike on Monday.
Under the deal, POSCO consented to augment the basic wage by 100,000 won (US$74.2) and offer additional benefits, according to the officials.
Unionized workers of POSCO Holdings Inc. hold a ceremony to celebrate the launch of a collective action committee in front of the company's steel plant in Gwangyang, about 290 kilometers south of Seoul, in this file photo taken Sept. 6, 2023. (Yonhap)
nyway@yna.co.kr
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