Posco, South Korea's top steelmaker, said Friday it has started this year's collective bargaining with its union.
The union has made various requests to the management, including a base pay increase and an extension of the retirement age.
Posco currently has two labor unions, but the one affiliated with the Federation of Korean Trade Union is recognized as the representing union with more than 6,600 members after receiving approval from the National Labor Relations Commission last December.
The smaller union under the Korean Confederation of Trade Union reportedly has some 2,000 members.
