Labor proposed a 16.3% minimum wage increase to 12,000 won/hour, citing rising costs. Business representatives, facing worsened conditions and reduced earnings, advocated for a freeze and differentiated wages, highlighting struggles of small businesses.
Samsung Electronics' largest union plans an 18-day strike starting Thursday after rejecting a mediation proposal. South Korea's labor minister is mediating last-minute talks amid concerns over economic impact and global chip supply.
South Korean Labor Minister Kim Young-hoon will mediate wage negotiations between Samsung Electronics and its largest union on Wednesday, May 20, in a final attempt to prevent a strike planned for Thursday. The talks aim to avert economic harm.
Samsung Electronics' largest union plans an 18-day strike starting Thursday after wage talks broke down, with management rejecting a mediation proposal. The union seeks fixed performance bonuses, while the company cites losses in some units. A strike could disrupt global supply chains and cost South Korea up to $67 billion.
Wage talks between Samsung Electronics and its largest labor union collapsed, leading the union to plan a strike involving over 40,000 workers. The presidential office expressed deep regret and urged both sides to continue efforts to reach an agreement.
Kakao Corp.'s labor union members across five affiliates, including Kakao Pay and Kakao Enterprise, have approved a strike vote following failed wage negotiations. Action plans will be announced soon.
A strike involving over 47,000 Samsung workers is set to begin Thursday after wage negotiations failed. The union seeks performance bonuses equivalent to 15% of operating profit, leading to a 3% drop in Samsung's shares.
Samsung Electronics' largest labor union and management resumed government-led wage mediation talks Wednesday, May 20, ahead of a planned 18-day strike by nearly 48,000 workers. The core dispute centers on performance-based bonuses for the AI-driven semiconductor business.
Samsung Electronics and its largest labor union will resume government-led wage mediation talks on Wednesday morning after failing to reach an agreement on performance-based bonuses and bonus caps during marathon negotiations.
Samsung Electronics and its largest labor union resumed government-led wage mediation Tuesday, with a potential last-minute deal to avert a strike. The union demands fixed performance bonuses, while the company proposes maintaining the current system with adjustments. A strike could cost South Korea up to 100 trillion won.
South Korean Industry Minister Kim Jung-kwan urged Samsung Electronics' labor union and management to reach a settlement in wage talks, as a planned strike looms. The union demands performance bonuses equal to 15% of the semiconductor division's operating profit.
Samsung Electronics and its labor union resumed government-led wage mediation Tuesday, aiming to avert a strike. The core dispute centers on performance-based bonuses for the AI semiconductor business, with the union demanding 15% of operating profit and management proposing 10% with a flexible system.
Samsung Electronics and its largest labor union resumed wage mediation talks on Tuesday, May 19, in a final effort to prevent a strike. The core dispute centers on performance-based bonuses for the profitable AI semiconductor business, with the union demanding fixed bonuses and the company proposing adjustments to the current incentive system.
Samsung Electronics' largest union and management resumed government-led wage talks Monday, aiming to avert a strike over performance bonuses. A court partially blocked the strike, requiring production to be maintained, but the union plans to proceed.
Samsung Electronics' largest labor union and management resumed government-led wage mediation talks Monday, seeking to avert an 18-day strike scheduled to begin Thursday over performance-based bonuses. The union demands fixed bonuses, while management proposes maintaining the current system with adjustments. A strike could cost South Korea up to $66.7 billion.
Samsung Electronics and the South Korean government urge labor unions to resume wage negotiations to avert a planned 18-day strike over performance-based bonuses, after government-mediated talks collapsed.
South Korea's Finance Minister Koo Yun-cheol expressed concern over the breakdown of wage talks at Samsung Electronics, urging the company and labor union to reach an agreement through principle-based negotiations.
SEOUL, May 8 (Yonhap) -- Samsung Electronics Co.'s labor union said Friday it wi...
SEOUL, May 8 (Yonhap) -- Samsung Electronics Co.'s labor union said Friday it wi...
SEOUL, May 8 (Yonhap) -- Samsung Electronics Co.'s labor union said Friday it wi...
