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Photo = Yonhap news |
[Alpha Biz= Reporter Kim Jisun] Hyundai Steel has reversed its decision to suspend operations at its Pohang Plant No. 2 in Gyeongsangbuk-do, following strong opposition from the labor union.
Background
According to the steel industry on December 5, Hyundai Steel rescinded its shutdown directive on December 3 and requested renewed discussions with the labor union. The company had been gradually lowering the plant’s operation rates due to repeated maintenance work, ultimately deciding to close the facility on November 13. Starting November 25, the plant entered an indefinite paid suspension, with employees set to receive 70% of their salaries during the shutdown period.
The union, strongly opposing the closure, launched protests, including demonstrations at the company’s headquarters in Pangyo, Gyeonggi Province.
Current Status
A Hyundai Steel representative stated, "While the plant’s operational rates have significantly declined, making it challenging to sustain operations, we are committed to continuing negotiations with the union."
This decision reflects the company's attempt to strike a balance between addressing operational difficulties and maintaining dialogue with its workforce. Further discussions are expected to determine the future of Pohang Plant No. 2.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
