Labor Union reaches an agreement with INI Steel

Labor Union reaches an agreement with INI Steel

Recent market news reports that labor union today reached an agreement with Korean steel producer INI Steel regarding wages. In line with the deal, wages will not be revised this year due to economic conditions. Similarly, another major Korean steel producer POSCO on May 12 announced that it will not increase wages. Moreover, union and INI Steel agreed that a five-day working system to be implemented to be effective as of next month.