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Market Chatter: Posco Union Workers Start Second Partial Strike Over Wage Dispute

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Posco (KRX:005490) union workers began a second partial strike on Wednesday after negotiations with management over wages and other compensation failed in South Korea, Yonhap News reported the same day.

Workers began a 120-hour walkout, with 60 workers each from the Pohang and Gwangyang plants expected to join the strike, the company said.

The union is seeking a 7.1% base pay hike, a 600% performance bonus, 50 company shares per worker and a 200% holiday bonus, while management has proposed a 2% wage hike, the report said.

Meanwhile, the steelmaker said it expects no major disruption to production and plant operations.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Hang SengSHA:688603
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Range Intelligent Computing Technology to Commit 1 Billion Yuan to AI Fund

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