Samsung C&T, POSCO E&C win major Seoul remodeling contracts in South Korea

Posco's union announced an indefinite strike starting November 2 after wage talks failed. The union sought a 7.1% pay raise and a 600% bonus, while Posco offered 2.5% and a one-time payment. This follows earlier partial strikes. According to the union, negotiations collapsed due to disagreements on wage increases and other issues.

Posco E&C won a 526.4 billion won ($397 million) contract to remodel the Isu Shindonga 4 apartment complex in Seoul, with 92.6% approval from the project association. The project will increase units from 912 to 1,048 and include various amenities. Posco E&C aims to deliver high-quality residential spaces.

POSCO E&C won a 526.4 billion won contract to remodel the Isu Shindong-A 4 Complex in Seoul, increasing households from 912 to 1,048. The company was selected with 92.6% approval and will proceed as the sole bidder. The project includes new amenities and a proposed name change to 'The Sharp Isu Station El Platz.'

POSCO's labor union will launch an indefinite strike starting Nov. 2 after wage talks collapsed. The union demands a 7.1% base pay increase, while management offered 2.5%. POSCO Holdings is expected to report Q3 revenue of 18.6394 trillion won and operating profit of 812.7 billion won, up 8% and 27% YoY, respectively, according to FnGuide. A strike could disrupt production, but management plans to adjust schedules and maintain operations.

POSCO's labor union will launch an indefinite strike from November 2 after wage talks collapsed. The union seeks a 7.1% base-pay increase, while management offered 2.5%. Both sides failed to agree on key issues. POSCO plans to minimize production disruptions.

POSCO Steeleon, a POSCO Group subsidiary, received quality approval on October 21 to supply stainless steel anti-fingerprint color steel sheets to General Electric (GE) for use in premium refrigerators. This marks the first time a South Korean color steel producer has entered GE's supply chain, following a two-year collaborative process.