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A panoramic view of Pohang Steelworks. / Yonhap

POSCO labor and management resumed wage negotiations after a one-month hiatus but failed to produce a tentative agreement. Management tabled a revised proposal with higher compensation than its previous offer, but could not narrow the gap with the labor union's demands.

According to POSCO labor and management on the 14th, the two sides held their ninth round of main negotiations and proceeded with talks at the company headquarters in Pohang, North Gyeongsang Province, that afternoon. This came about a month after suspending wage talks on the 15th of last month.

Previously, the union and management sought common ground through three rounds of working-level talks on the 7th, 8th, and 13th, but failed to reach a final agreement.

On this day, management put an improved compensation package on the table. It proposed raising the base pay hike rate from the previous 2.0% to 2.2%, a lump-sum payment of 4.5 million won including 500,000 won in local gift certificates, an additional 400,000 won in welfare points, and a special adjustment grant to accelerate K-steel innovation.

In contrast, the labor union is demanding a 7.1% increase in base pay, an incentive payment equivalent to 600% of base salary, 50 employee stock ownership shares, and a 200% holiday bonus. Regarding the company's revised proposal, a union official conveyed the stance that "there is no significant change from the previous proposal."

Previously, the POSCO labor union staged two partial strikes last month over stalled wage negotiations. While labor and management plan to continue talks, the specific schedule for the next round has not yet been finalized.

A POSCO official stated, "We will continue communicating with the union and strive to reach a swift and smooth settlement in the negotiations."

                                                                                                             Kim So-young