As reported by EnergyReview.net earlier, the union workers are asking for a 10.5% pay hike and better working conditions and benefits.
A company official, interviewed by the Korean media and who declined to be named, confirmed the shutdown.
According to the insider, “I can confirm operations were suspended at around 5:20 p.m. (0820 GMT) [Monday] and an investigation is under way. But it [is] not clear what had caused the shutdown.”
While the informant would not divulge any further details, it is believed the workers’ strike was the cause behind the total halt in operations, which is costing the company around US$26.1 million per day.
LG-Caltex is a 50-50 JV between LG Group and ChevronTexaco Corp.
