POSCO’s union rejected a tentative wage agreement with management on Nov. 7, with 51.69% voting against and 48.31% supporting it. The deal, reached Oct. 30 after about 30 negotiating sessions since June, offered a 2.6% base-pay increase, a one-off payment of 6 million won (US$4,500) and improved benefits. The union had sought a 7.1% raise, a performance bonus worth 600% of base pay, 50 company shares per worker and a holiday bonus worth 200% of base pay. The union is affiliated with the Federation of Korean Metalworkers’ Unions under the Federation of Korean Trade Unions. The rejection leaves labor and management in a stalemate and is expected to lead to renewed negotiations after workers staged two partial strikes in September.