Steelmakers face escalating labor tensions over bonuses, hiring demands

Steelmakers POSCO and Hyundai Steel are heading into annual wage talks amid escalating tensions with their respective labor unions. Workers' growing demands for bonus payouts and subcontractor employment are placing an additional burden on the companies already grappling with weak steel demand and growing global competition. At Hyundai Steel, its labor union is demanding a 150 percent increase in performance-based bonuses compared to last year as part of this year’s wage talks. The union said the request reflects rising productivity despite a shrinking workforce. “Despite workforce reductions and no additional hiring, blast furnace output has continued to increase, improving quality and achieving target production levels,” the union said. It argued that while the number of technical staff members across the company declined by 398 between 2021 and 2025, overall blast furnace production increased by 497 tons over the same period, resulting in higher output per worker. The union cited the company’s improved operating profit last year for its demand. Hyundai Steel reported a revenue

Original source: Korea Times