The Korea Cargo Transport Workers Union decided Friday afternoon to accept a preliminary agreement between its Pohang chapter and nine cargo companies there over the hike in cargo charges.

The decision was made after a vote at a general meeting attended by union members.

According to the preliminary settlement, five cargo companies which have contracted with POSCO will increase cargo charges by 15 percent, while the remaining four companies will continue talks about the cargo rate hike with the Pohang chapter in coming days. However, they agreed to take into account the suggested rate of 11 to 14.5 percent during the talks.