SEOUL – 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.
(Reporting by Joyce Lee; editing by Jason Neely)