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POSCO Chemical achieves salary agreements without negotiation for 25 years in a row
2021.09.17
- POSCO Chemical continues to hold the record for achieving salary agreements without negotiation for the longest period of time among South Korean companies with 1,000 or more employees
- The representatives from both parts agreed to be focused on investment and business capabilities
POSCO Chemical has achieved salary agreements without negotiation — whereby labor entrusts salary-related matters to management —for 25 years, laying the foundation for sustainable growth through labor-management solidarity.
With this agreement, POSCO Chemical's labor and management has agreed on salary without negotiation for 25 consecutive years since 1997, maintaining the longest record among companies with 1,000 or more employees.
On September 17, POSCO Chemical held a signing ceremony for salary agreements without negotiation for 2021 at its Pohang head office in Pohang in the attendance of representatives from labor and management, including president CEO Min Kyung-joon zoonMin, Maintenance Union chairman Hwang Seong-hwan, Manufacturing Union chairman Ma Sook-woong, Labor-Management Council's worker representative Kim Young-hwa Kim, and the Maintenance Union's Gwangyang branch manager Shin Yong-su Shin.
At the signing ceremony, the representatives labor and management at POSCO Chemical agreed to set salaries for this year without negotiation, vowing to maximize the company's business competitiveness based on stable labor-management relations as a driving force and to join forcescooperate to improve the welfare of employees.
POSCO Chemical, which is putting concerted efforts into investment for future growth, expects the labor-management agreement to lead to the enhancement of its business competitiveness.
For the second half of this year, with the goal of becoming a global top-tier company, POSCO Chemical has already decided to build a cathode manufacturing plant in Pohang with an annual capacity of 60,000 tons, and to invest in a joint venture for cathodes and precursors in China, as well as localize pitch production that is used for coating anodes.
“Mutual trust and a future-oriented labor-management culture are the most important competitive advantages edge of POSCO Chemical. All employees will work together to create a company in which employees can be happy and proud,” said POSCO Chemical CEO Min Kyung-Joon zoonMin, CEO of POSCO Chemical.
Union representatives said, "We have decided to entrust salary-related matters to management so that the company can yield results in its investment for future development and concentrate on its business activities. We will continue to strive to develop a win-win labor-management culture.”
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Labor and managemetn representative after signing ceremony on salrary agreement record without negotiation for 25 years in a row
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