Unionized workers at South Korean steelmaker POSCO launched a two-day partial strike on Wednesday, marking the first labor stoppage in the company's nearly six-decade history. The industrial action stems from unresolved negotiations with management over wage increases and additional employee benefits.

The 48-hour partial walkout commenced at 7:00 AM local time, with 40 workers participating at the Pohang plant and 80 workers at the Gwangyang facility. POSCO employs approximately 17,000 people, of whom around 10,100 belong to the union. The company emphasized that the limited number of participating employees would likely have minimal impact on steel production and stated that measures have been implemented to ensure uninterrupted operations across its plants.

The union is demanding a 7.1% increase in base wages, a 600% performance bonus, allocation of 50 company shares per employee, and a 200% holiday bonus. Management, however, has proposed only a 2% base salary increase, leaving a significant gap between the two sides on core compensation issues.