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Samsung Union Approves Salary Agreement to Avoid Strike Risks

2026-05-27 02:13:26

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Golden Finance reported that on May 27, Samsung Electronics’ Korean union said on Wednesday that it had voted to approve a temporary wage agreement, avoiding a strike that could have disrupted global chip supply and hit South Korea’s economy. The union said that among the 62,616 employees who participated in the vote, nearly 74% supported the agreement. The approval of this agreement ended the intense five-month dispute between both sides over performance bonuses. Last Wednesday, after South Korea’s Minister of Employment and Labor stepped in at the last moment to mediate, labor and management initially reached a tentative agreement—just hours before the union members’ planned strike. Under the finally approved agreement, Samsung will implement a new 10-year special performance bonus system for the semiconductor division, while overall salaries will be increased by an average of 6.2%. (Jin10)

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