SEOUL, POSCO Holdings Inc., South Korea’s top steelmaker, and its labor union have reached a tentative wage deal, company and union officials said Tuesday, avoiding a strike.
The deal came after unionized workers of POSCO voted to go on strike Monday.
Under the deal, POSCO agreed to increase the basic monthly salary by 100,000 won (US$74.2) and provide other benefits, according to officials.
Source: Yonhap News Agency