POSCO union warns of 'indefinite' walkout after wage talks collapse

Unionized workers at South Korean steelmaker POSCO are planning an "indefinite" strike starting next week if the company does not make an acceptable wage offer. The strike, which will affect non-core production lines at the company's plants in Pohang and Gwangyang, comes after wage talks between POSCO and the union broke down over the weekend. This strike could disrupt steel production and have a ripple effect on the global steel market, potentially impacting trade and economic growth. The indefinite nature of the strike adds uncertainty for investors and markets.

Why it matters

The collapse of wage talks may lead to a strike, disrupting production and affecting the company's operations. This could impact the company's profitability and investor sentiment.

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