POSCO labor and management's wage and collective agreement for this year passed its final hurdle.
The Korean Federation of Trade Unions Metal Workers' Federation POSCO Labor Union said on the 13th that a membership vote on the tentative wage and collective agreement reached with the company was approved with 71.76% in favor.
POSCO's representative bargaining union, the POSCO union, reached a tentative agreement on the wage and collective agreement with the company on the 5th.
The agreement includes a 110,000 won increase in base pay, a 2.5 million won competitiveness enhancement contribution, a 4 million won employee stock ownership acquisition subsidy, and a 500,000 won local gift certificate payment.
It also includes the introduction of a productivity incentive (PI) program, unifying a wage system that had been operated differently depending on hiring date, and expanding the use of the right to stop work to strengthen workplace safety.
Labor and management plan to hold a signing ceremony for the wage and collective agreement on the 17th.