Posco (KRX:005490) union workers began a second partial strike on Wednesday after negotiations with management over wages and other compensation failed in South Korea, Yonhap News reported the same day.

Workers began a 120-hour walkout, with 60 workers each from the Pohang and Gwangyang plants expected to join the strike, the company said.

The union is seeking a 7.1% base pay hike, a 600% performance bonus, 50 company shares per worker and a 200% holiday bonus, while management has proposed a 2% wage hike, the report said.

Meanwhile, the steelmaker said it expects no major disruption to production and plant operations.

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