Pohang City launches emergency response to POSCO labor strikes

Pohang City has convened an emergency Regional Economic Crisis Response Committee to address the potential impact of ongoing labor disputes at POSCO. The POSCO labor union has initiated partial strikes at one plant each in the Pohang and Gwangyang steelworks, alongside refusing overtime and holiday work.

Local authorities are concerned that a prolonged dispute could lead to reduced production and shipments, negatively affecting partner companies, employment, and worker income. This, in turn, could diminish consumer spending and impact small businesses and traditional markets, particularly ahead of the Chuseok holiday.

In response, Pohang City, the Pohang City Council, the Ministry of Employment and Labor, and various economic and industrial organizations have agreed to monitor production trends and business activities closely. The city plans to prepare support measures across employment, finance, taxation, and local currency sectors to minimize damage to the local economy and citizens.