Unionized workers at Samsung Electronics approved a wage agreement on May 27. The vote eased concerns about potential disruptions to the global supply chain.
In a six-day vote, 73.7 percent of 62,616 members from the company's two largest unions backed the tentative deal. The two sides signed the agreement later that day.
Under the deal, Samsung will pay a special semiconductor performance bonus equal to 10.5 percent of business earnings. The bonuses will be issued in company stock over at least ten years if the chip division meets annual operating profit targets of more than 200 trillion won from 2026 to 2028 and 100 trillion won from 2029 to 2035.
Yeo Myeong-gu, head of the Device Solutions division's People Team, said in a press release, "Starting with the conclusion of this wage agreement, labor and management will work together as one to strengthen our global competitiveness." The company also announced plans to raise a 5 trillion-won fund over five years for talent development and supplier support.
