Contract workers striking at S.Korea’s Daewoo shipyard reach agreement -Yonhap

SEOUL, July 22 (Reuters) – Daewoo Shipbuilding & Marine Engineering (042660.KS)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