Hyundai Steel, South Korea’s second-largest steelmaker by sales, announced it will resume operations at its cold-rolled steel plant this week and restart wage negotiations with its labor union.
The facility, part of the integrated steel mill in Dangjin has been shut down since February 24 due to a prolonged workers’ strike over wage increases. The company previously estimated production losses of at least 270,000 tons due to the suspension, calling the shutdown a defensive measure amid stalled negotiations since late January.
According to a company spokesperson, union members are expected to end their collective action on Thursday and resume wage talks the following day.