Kim Sung-ho won a third term as chairman of the POSCO labor union, securing 6,382 votes, or 73.53%, against former Pohang chapter vice chairman Kim Dae-eok, who received 2,298 votes, or 26.47%. The result clears the way for the union and POSCO to resume wage negotiations after two partial strikes last month, the first strikes at the company since its founding in 1968. The union has sought a 7.1% base-pay increase, incentives worth 600% of monthly wages, 50 shares through an employee stock ownership plan (program allowing employees to own company shares), and holiday bonuses worth 200% of monthly wages. Management proposed a 2.0% base-pay increase, a 3.5 million won target-achievement incentive, 500,000 won in local gift certificates and expanded eligibility for higher long-service awards. The 21st union leadership will serve from Dec. 1 this year through Nov. 30, 2029.