The head of South Korea's biggest trade union announced his resignation after the group voted against a key labor deal to cope with the fallout from the COVID-19 pandemic.

On Friday, Kim Myung-hwan, chief of the Korean Confederation of Trade Unions(KCTU), said he will step down five months before his term ends, taking responsibility for failing to reach consensus on the social agreement.

Kim was among the first to propose such talks involving the government, businesses and labor that kicked off in May, culminating in the recent deal.

The government proposed mapping out a universal employment insurance plan by the year's end and providing support to companies that have temporarily shut down or asked employees to take leave.

Businesses had pledged to maintain employment, while labor unions agreed to cut work hours and take leave.

On Thursday, however, 805 out of one-thousand-311 KCTU representatives voted against the agreement, while 499 approved it.