KEPCO union calls off strike threat

The trade union of Korea Electric Power Corp. (KEPCO) has canceled its strike scheduled at 8 a.m. Monday as the company has agreed to give better treatment to the union members and as the law concerning KEPCO's privatization passed the National Assembly.

As a result, the winter labor strife planned by labor federations, with KEPCO's strike as a starting point, might have lost momentum. Also, it is a question whether the Korean Confederation of Trade Unions (KCTU), which focused on reduced work hours rather than restructuring of the public sector, will work in concert with its rival organization, the Federation of Korean Trade Unions (FKTU).

At a special adjustment meeting among labor, management and the government, which was held at the National Labor Relations Commission building in Mapo, Seoul, they agreed that the company will give prior notice, maintain the workforce and discuss working conditions in case of spin-off. Also, they agreed that the privatization would be studied by a consultative body consisting of labor, management and government.

"We will cancel the projected strike by accepting the spirit of agreement between the ruling party and the opposition party,¡± the chairman of the union said. ¡°We will try to suggest alternatives, instead of simply opposition, against the reform of public firms, which is vital for restoration of the nation's economy."