POSCO union to launch indefinite strike on Nov 2 after wage talks collapse
POSCO’s labor union announced it will begin an open‑ended strike on 2 November after wage negotiations broke down. The union is demanding a 7.1% increase in base pay, a 600% encouragement bonus, 50 employee shares and a 200% holiday bonus, while the company offered a 2.5% base‑pay rise and a lump‑sum payment. POSCO said it will activate an emergency operations system and adjust production schedules to limit disruption. The strike comes as the company forecasts higher third‑quarter revenue and profit.
Why it matters
Analysts note that the strike could curtail steel output and affect customers in autos and shipbuilding, while POSCO shares fell 1.63% on the news. The company’s Q3 earnings outlook remains positive, but production risks may pressure margins.
Key facts
- 1The union will start an indefinite strike on 2 November. en.fnnews.com
- 2Union demands a 7.1% base‑pay increase. en.fnnews.com
- 3Management offered a 2.5% base‑pay increase. en.fnnews.com
- 4Union also seeks a 600% encouragement bonus, 50 employee shares and a 200% holiday bonus. finance.biggo.com
- 5POSCO forecasts Q3 2026 consolidated revenue of 18.6394 trillion won, about +8% YoY. finance.biggo.com
- 6POSCO forecasts Q3 2026 operating profit of 812.7 billion won, about +27% YoY. finance.biggo.com
Summary written by AlphAI AI Desk from 12 of 12 sources. Not investment advice. Figures are as stated by the linked sources.