POSCO workers stage partial strike over wage dispute

The labor union of Korean steelmaker POSCO on Wednesday began a two-day partial strike after failing to narrow differences with management over wages and other compensation. The walkout marks the first strike by POSCO workers since the company was established in 1968. The 48-hour partial walkout began at 7 a.m., involving around 120 workers at POSCO's steel plants in Pohang and Gwangyang in the southern part of the country, union spokesperson Yi Jae-hyuk said by phone. POSCO has about 17,000 employees, of whom around 10,100 are union members. The company said the limited number of workers participating in the strike is expected to have little impact on steel production, adding it will take measures to prevent disruptions to overall plant operations. "Disruptions will be inevitable next week as our workers plan a 120-hour partial strike at the two plants starting at 7 a.m. on Sept. 16," union Chairman Kim Sung-ho said. The union has demanded a 7.1 percent base pay increase, a 600 percent performance bonus, 50 company shares per worker and a 200 percent holiday bonus. In addition to wage incr