Business meeting between Samsung Electronics and union representatives during mediation talks.
Business meeting between Samsung Electronics and union representatives during mediation talks.
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Samsung Electronics and union to resume mediation talks monday

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Samsung Electronics and its labor union will resume government-led mediation talks on Monday, three days before a planned major strike.

The session will take place at the National Labor Relations Commission's office in Sejong. Earlier mediation talks broke down on Wednesday.

The company's largest labor union plans to begin an 18-day strike next Thursday. Over 46,000 members have expressed willingness to join.

Chairman Lee Jae-yong apologized publicly on Saturday at Gimpo International Airport. He urged unity, saying union members and Samsung family are one body and one family.

The union demands fixed performance bonuses equal to 15 percent of semiconductor operating profit. Management proposed keeping the current system with options of 10 percent of profit or economic value added.

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Discussions on X highlight concerns about potential disruptions to global chip supplies due to the upcoming strike. Some users view the resumption of talks as a positive development that could avert the strike, while others express skepticism regarding the likelihood of successful mediation. Financial analysts note impacts on stock prices and memory chip markets.

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Illustration of Samsung union and management in wage negotiation talks in a boardroom.
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Samsung electronics union to hold wage talks next week

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Samsung Electronics' labor union announced on Friday that it will resume wage negotiations with management next week. The decision follows the breakdown of initial talks over bonuses and acceptance of government mediation requests. Unionized workers had threatened an 18-day general strike starting May 21.

Wage negotiations between Samsung Electronics and its labor union collapsed on Wednesday, raising fears of a major strike starting May 21 involving more than 40,000 workers.

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Labor talks between Samsung Electronics and its union broke down on Wednesday, heightening fears of a strike scheduled for May 21. The presidential office vowed to support further dialogue.

President Lee Jae Myung warned on April 30 that excessive labor union demands could harm unions and other workers, urging responsibility. The remarks came amid threats of an 18-day strike by a major Samsung Electronics union starting May 21. He stressed coexistence amid AI-driven changes.

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Samsung Electronics Chairman Lee Jae-yong returned to Seoul on Friday from a business trip to Europe. He likely held meetings with European carmakers on battery cooperation. He arrived at Gimpo International Airport with Samsung SDI CEO Choi Joo-sun.

President Lee Jae-myung held a summit with Indian Prime Minister Narendra Modi in New Delhi on April 20, agreeing to double bilateral trade to $50 billion by 2030 and cooperate on energy supply chains amid Middle East tensions. The leaders confirmed resuming CEPA upgrade talks and signing MoUs in shipbuilding, AI and other areas. A selfie taken by Samsung Chairman Lee Jae-yong with a Galaxy Z Flip7 during the event went viral.

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Samsung Electronics will shut down its TV production plant in Galanta, Slovakia, in May, industry sources said. The closure ends 24 years of operations to improve efficiency. The facility currently employs about 700 workers.

 

 

 

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