POSCO union starts 120-hour partial strike after wage talks fail
Published · Updated
What happened
POSCO's labor union initiated a 120-hour partial strike on September 16 after wage negotiations failed. The dispute is unfolding while POSCO's first-half operating profit is reported to have fallen 43% from a year earlier.
Why it matters
A labor action at POSCO can alter steel output, deliveries, and downstream input availability if it spreads beyond a partial strike. It also tests how large Korean manufacturers handle wage bargaining when earnings are under pressure, which can influence labor settlements in other heavy-industry firms.
POSCO's labor union began a 120-hour partial strike on September 16 after wage negotiations did not produce an agreement, according to Seoul Economic Daily. The action comes as the company reported a 43% year-on-year decline in first-half operating profit, linking the labor dispute to a weaker earnings backdrop. For senior decision-makers, the immediate question is whether the strike remains limited or widens into output disruption at a time of soft steel demand and pressure on industrial margins.
Watch for
POSCO labor union statement on strike status by September 25 Seoul Economic Daily report on any escalation of the strike by September 25 Ministry of Trade, Industry and Energy announcement on steel production forecasts by September 26 No confirmed agreements reached in ongoing negotiations by September 25
Sources
- Seoul Economic Daily · sedaily.com
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