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1 August, 2005
After a one-week strike, some 300 members of ICEM affiliate Korean Chemical & Textile Workers’ Federation reached a labour agreement with BASF Korea in Yeosu. The 23 July agreement calls for a base monthly salary hike of 5% and a reduction in weekly work hours from 42 to 40 without any corresponding loss of pay.
The amiable settlement is contrasted with the harsh response of government and joint venture partners LG Group and ChevronTexaco at the nearby LG Caltex refinery.