Hyundai Steel cold rolling plant closes down as strike continues after no agreement with union - South Korea

Hyundai Steel, a major steelmaker, has announced that it has partially shut down its pickling and tandem cold rolling line (PL-TCM) in the cold rolling plant at its Danjin Steelworks in Chungcheongnam-do.
The strike at the PL-TCM division of the plant has resulted in the suspension of operations not only at the plant in question but also at all cold rolling-related processes.
The union has been holding full and partial strikes since January 21. This has made it impossible to determine production schedules and has led to a deterioration in business.
Hyundai Steel's labor union has been in collective bargaining since September 2024, but has yet to reach an agreement in 2025.
He requested a base pay increase of 158,000 won (approximately 16,500 yen), etc. The company proposed to pay 450% of the base salary plus 10 million won (approximately 1.04 million yen) as performance-based pay.
However, the labor union refused and went on strike, causing factories across the country to suspend operations on the 11th.
The company's cold rolling division was unable to produce approximately 270,000 tons between February 1 and 22.
The losses are said to amount to 25.4 billion won (approximately 2.66354 billion yen).