The POSCO labor union said on the 27th that September 9 would be its effective final deadline for wage negotiations, warning it would launch a 48-hour partial strike unless management makes a decisive move. The union, affiliated with the Korean Metal Workers' Federation under the Federation of Korean Trade Unions, said the action would be its first industrial dispute. It is seeking a 7.1% base-pay increase, incentive pay equal to 600% of monthly wages, 50 employee shares and holiday bonuses worth 200% of monthly wages. The union says the dispute also concerns chronic staff shortages, long hours, inadequate safety and welfare measures, and limited staffing at the industrial safety and health center. POSCO says satisfying all demands would cost about 1.4 trillion won ($1 billion), twice last year's request. The union obtained the legal right to strike on the 18th after the National Labor Relations Commission halted mediation; 92.17% of members backed a strike in a vote held on the 8th and 9th of last month. A strike would end POSCO's 58-year record without labor disputes since its founding in 1968. Management said it would work until the end to resolve the dispute through dialogue.