“Labor-management conflict leads to factory closure”… Steel industry sense of crisis ‘heightens’

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Published on Nov 25, 2024

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[Anchor] The steel industry is going through a harsh winter. It is facing a series of adverse factors, including worsening business conditions, labor-management conflicts, and factory fires that have caused shutdowns. Concerns are rising as the steel industry, which is related to various industries such as construction, automobiles, and shipbuilding, is experiencing a growing sense of crisis. Kim Hyo-jin reports. [Reporter] The steel industry, which is already struggling due to China’s low-priced steel product offensive and the economic downturn, has now encountered the reefs of labor union risk and factory fires. Yesterday (24th), a fire broke out at POSCO’s Pohang Steel Works 3 Finex Plant. This plant had been shut down due to a large fire on the 10th, and the fire broke out again just five days after it resumed operation. Despite the successive factory fires, the POSCO labor union decided to hold a vote on whether or not to go on strike today (25th). After wage negotiations, which focused on raising basic salaries, broke out, the union is holding a vote on whether or not to go on strike in order to secure legal strike rights. The Central Labor Relations Commission previously decided to suspend mediation, judging that the differences between labor and management were significant. If the actual strike goes ahead, it will be the first strike since POSCO was founded. Hyundai Steel, the second largest company in the industry, is also in a bad situation. Since the labor-management meeting in September, Hyundai Steel has not been able to conduct main negotiations due to worsening business conditions. Dissatisfaction with the reduction in factory operations is also growing. On the 20th, the Hyundai Steel union held a rally in front of the Pangyo headquarters in Gyeonggi Province to protest the closure of Hyundai Steel’s Pohang Plant 2. If Pohang Plant 2 closes, about 200 workers will have to relocate to Dangjin or Incheon, but it is difficult to make a sudden move. Hyundai Steel shut down Pohang Plant 2 on the 14th due to worsening business conditions. Such factory reductions and closures are occurring throughout the steel industry. Following Pohang Plant 1 in July, POSCO shut down Pohang Steelworks’ first plant for the first time in 45 years and 9 months. The steel industry is going through a harsh winter with external risks and internal union risks overlapping. This is Kim Hyo-jin from Seoul Economic TV. /[email protected] [Video Editing by Kim Ga-ram] ★Same channel number nationwide!! ★ SKY Life _ Ch. 156 │ Genie tv _ Ch. 184 │ SK Btv _ Ch. 156 │ U+ tv _ Ch. 167 Homepage: http://www.sentv.co.kr/ Naver TV: https://tv.naver.com/sen Kakao TV: https://bit.ly/2mlu4uU ★SEN Seoul Economic TV YouTube Channel Seoul Economic TV: https://bit.ly/2FsQnHw Seoul Economic TV VOD: https://bit.ly/2RPZiZ9 Seoul Economic TV Investment: / sentvestate

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