The union leader of South Korea's Pohang Steel said on Saturday that the company's union members voted against the preliminary wage agreement reached with management. According to the union, the voting results showed that 51.69% of union members opposed the wage agreement, while 48.31% of members agreed. The preliminary wage agreement includes a 2.6% increase in basic wages, a one-time payment of 6 million won, and improvements in employee benefits. The union initially requested a 7.1% increase in the basic wage, a performance bonus equivalent to 600% of the basic wage, 50 company shares per worker, and a vacation bonus equivalent to 200% of the basic wage.

The union leader of South Korea's Pohang Steel said on Saturday that the company's union members voted against the preliminary wage agreement reached with management. According to the union, the voting results showed that 51.69% of union members opposed the wage agreement, while 48.31% of members agreed. The preliminary wage agreement includes a 2.6% increase in basic wages, a one-time payment of 6 million won, and improvements in employee benefits. The union initially requested a 7.1% increase in the basic wage, a performance bonus equivalent to 600% of the basic wage, 50 company shares per worker, and a vacation bonus equivalent to 200% of the basic wage.