Samsung Union Suspends Strike After Last-Minute Deal
The tentative deal covers wages and bonuses after talks over Samsung’s performance-based pay system and could avert losses estimated at 100 trillion won.
- On Wednesday, Samsung Electronics Labor Union suspended a planned 18-day strike just before it began after reaching a tentative wage agreement with management, averting potential production disruptions.
- Labor Minister Kim Young-hoon mediated intensive negotiations at the National Labor Relations Commission that broke the deadlock after talks had stalled since November last year.
- The tentative agreement creates a special management performance bonus for Samsung Electronics Device Solutions funded by 10.5 percent of business indicators, bringing total payouts to 12 percent over a 10-year period.
- Nearly 48,000 union members will vote on the proposed 2026 wage deal from 9 a.m. Saturday through 10 p.m. May 28, with union leader Choi Seung-ho expecting member approval.
- Despite the averted strike, Samsung Electronics must address internal friction between divisions, as employees from the Device Experience division previously protested that their demands were ignored during negotiations.
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109 Articles
When companies flourish, the workforce often also benefits. At Samsung in South Korea, business runs so well that employees wanted a particularly large piece of cake. They get it.
The chip manufacturer decided to share the bass profits that he earned from the I.I.D. boom.
Samsung Electronics has entered into an agreement with the unions to avoid an 18-day strike, providing for up to 12% of the profits of its semiconductor division paid in bonuses to 78,000 employees, in a context of strong growth driven by artificial intelligence.
Samsung's strike was called off at the last minute, now workers have to vote on the deal
The Samsung Group's trade union will vote on the company's latest proposal to avert an 18-day strike involving tens of thousands of memory manufacturing workers. The negotiating parties reached the preliminary deal just an hour and a half before strike action was set to begin. Voting will take place on...Read Entire Article
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