POSCO Holdings Inc. (005490) subsidiary POSCO disclosed executive pay cuts in a September 4 employee statement. Dailian reported Friday that the president returned 20% of pay while division heads returned 15%.
The company raised its proposed base pay increase from 1.5% to 2.0% at Thursday's seventh bargaining session. It also increased its proposed incentive payment from ₩2.5 million to ₩3.5 million, but the union rejected the offer.
Other executives returned 10% of their pay this year, according to the president's statement to employees. The company's market capitalisation was ₩26.7 trillion at Friday's close.
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| Symbol | Last Price |
|---|---|
| 005490POSCO Holdings Inc. | ₩337,000 -1.5% |