Stock Market News
Contract workers striking at South Korea’s Daewoo shipyard reach agreement – Yonhap
2022.07.22 10:50
FILE PHOTO: The logo of Daewoo Shipbuilding & Marine Engineering Co is seen at its building in Seoul, South Korea, March 24, 2017. REUTERS/Kim Hong-Ji
SEOUL (Reuters) – Daewoo Shipbuilding & Marine Engineering has reached an agreement with striking contract workers, Yonhap news agency reported on Friday, in a dispute which the shipbuilder said had cost it more than $400 million by mid-July.
About 100 sub-contractors launched the strike last month, occupying the shipyard’s main dock to demand a pay rise of 30% amid increased orders for container ships and LNG carriers.
