Which POSCO production lines will be excluded from the planned Nov. 2 strike?

The union said workers in non-core production lines at POSCO’s Pohang and Gwangyang plants would walk out, while workers in the blast furnace, heating and steelmaking lines would be excluded.

What are POSCO’s union and management proposing in the wage negotiations?

The union is seeking a 7.1 percent base-pay increase, a bonus worth 600 percent of base pay, 50 company shares per worker and a holiday bonus worth 200 percent of base pay. Management’s revised offer is a 2.5 percent base-pay increase and a one-time 5 million won payment.

POSCO union warns of 'indefinite' walkout after wage talks collapse

Q: How does POSCO plan to limit the effects of the threatened strike on production and customers?

POSCO said it would immediately activate an emergency operational response system and adjust production volumes to minimize the impact on customers and domestic demand industries.

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Summary

POSCO unionized workers said Monday they will begin an indefinite strike at 7 a.m. on Nov. 2 at the company’s plants in Pohang and Gwangyang if wage talks do not produce an acceptable offer. The planned walkout excludes blast furnace, heating and steelmaking lines, and the union said it remains open to new proposals before the strike. POSCO said it would activate an emergency response system and adjust production to limit effects on customers and domestic demand industries.

Key Facts

The union is seeking a 7.1 percent base-pay increase, a performance bonus equal to 600 percent of base pay, 50 company shares per worker and a holiday bonus equal to 200 percent of base pay.
POSCO’s revised offer includes a 2.5 percent base-pay increase and a one-time payment of 5 million won ($3,770).
POSCO has about 17,000 employees, including around 10,100 union members.
POSCO Holdings shares fell 1.63 percent to 271,000 won as of 10:35 a.m., while the KOSPI was down 0.48 percent.
The union cited staffing shortages and aging facilities as factors that could increase the risk of safety incidents.

By Yonhap

Published Oct 26, 2026 10:57 am KST

POSCO's steel plant in Pohang, 270 kilometers southeast of Seoul / Yonhap

Unionized workers at South Korean steelmaker POSCO will launch an "indefinite" strike next week unless the company makes an acceptable offer in wage negotiations, the union said Monday.

The warning came after wage talks between POSCO and the union broke down over the weekend.

"Starting at 7 a.m. on Nov. 2, workers in non-core production lines at the company's plants in Pohang and Gwangyang will go on strike, excluding those in the blast furnace, heating and steelmaking lines," union spokesperson Park Chun-su said over the phone.

The union remains open to negotiations if the company makes any meaningful new proposals before the strike begins, he said.

"If the union launches the planned strike, the company will immediately activate an emergency operational response system and adjust production volumes to minimize the impact on customers and domestic demand industries," POSCO said in a statement.

In September, unionized workers at the two plants in southern South Korea staged two rounds of partial strikes, marking the first industrial action by POSCO workers since the company was founded in 1968.

POSCO has about 17,000 employees, including around 10,100 union members.

The union has demanded a 7.1 percent increase in base pay, a performance bonus equivalent to 600 percent of base pay, 50 company shares per worker and a holiday bonus equivalent to 200 percent of base pay.

In addition to wage increases, the union has cited staffing shortages and aging facilities as factors that could increase the risk of safety incidents.

Management, meanwhile, has proposed a 2.5 percent increase in base pay and a one-off payment of 5 million won ($3,770) in its revised offer.

Shares in POSCO Holdings fell 1.63 percent to 271,000 won as of 10:35 a.m., far underperforming the broader KOSPI's 0.48 percent loss.

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