Posco's labor union said Saturday that its members rejected the Oct. 30 proposal, with 51.69% opposed, leaving management and workers without a wage settlement after talks that began in June.
The union and management held about 30 bargaining sessions, but compensation differences remained, The Korea Herald reported. Workers staged two partial strikes in September, and the union had threatened another before the sides reached the provisional agreement, the newspaper said.
The proposed package included a 2.6% increase in base pay and a one-time bonus of 6 million won ($4,400). It also provided for a three-step promotion increase. Holiday payments were set at 2 million won plus 20% of base pay, with that share scheduled to rise to 30% in 2028, according to The Korea Herald.
The report said the offer also included higher allowances for shift work, residency and maintenance, along with expanded medical coverage.
A union official said labor leaders would need to prepare for renewed negotiations after the vote, The Korea Herald reported. A Posco official said management would continue dialogue while weighing business conditions and employee views as it seeks a settlement.
