Samsung and Union Resume Pay Talks to Prevent Strike
Samsung Electronics and its South Korean labor union are entering a new round of government-mediated negotiations on Monday to avert a strike scheduled for Thursday. Government officials warned that a work stoppage at the chipmaker could significantly impact national exports and economic growth.
SAMSUNG ELECTRONICS CO LTD and its labor union will resume government-mediated pay talks on Monday to avert a strike scheduled for Thursday. The company accounts for nearly 25% of South Korea's exports. South Korean government officials, including the prime minister and finance minister, have warned that a strike could pose significant risk to economic growth and exports.
Negotiations restart after a previous round of talks over pay and bonus schemes failed. Prime Minister Kim Min-seok said on Sunday the government would pursue all options to prevent a walkout, including emergency arbitration, which prohibits industrial action for 30 days while the National Labor Relations Commission conducts mediation.
