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The head of Samsung Electronics' South Korean labor union stated that the company and the union failed to reach an agreement on a wage deal on Wednesday, and it is expected that more than 50,000 employees will go on a full strike, which may disrupt the production of AI and other chips. Prior to this, the two parties held marathon negotiations for several hours on Monday and Tuesday under government mediation. Union representative Choi Seung-ho said that the company did not respond to the union's request to reform the compensation plan, including removing the current bonus cap set at 50% of the annual base salary and instead calculating bonuses based solely on operating profit. The union previously stated that if its demands were not met, employees would go on an 18-day strike starting on May 21. The union representative stated that there are currently no plans to restart negotiations with management before the strike date, but he would be willing to consider it if the company proposed a "reasonable plan." The South Korean National Labor Relations Commission stated that it had proposed "various alternative plans" but decided to end the mediation process "given the large gap between the positions of the two parties and the union's request to suspend negotiations." [Golden Ten]

The head of Samsung Electronics' South Korean labor union stated that the company and the union failed to reach an agreement on a wage deal on Wednesday, and it is expected that more than 50,000 employees will go on a full strike, which may disrupt the production of AI and other chips. Prior to this, the two parties held marathon negotiations for several hours on Monday and Tuesday under government mediation. Union representative Choi Seung-ho said that the company did not respond to the union's request to reform the compensation plan, including removing the current bonus cap set at 50% of the annual base salary and instead calculating bonuses based solely on operating profit. The union previously stated that if its demands were not met, employees would go on an 18-day strike starting on May 21. The union representative stated that there are currently no plans to restart negotiations with management before the strike date, but he would be willing to consider it if the company proposed a "reasonable plan." The South Korean National Labor Relations Commission stated that it had proposed "various alternative plans" but decided to end the mediation process "given the large gap between the positions of the two parties and the union's request to suspend negotiations." [Golden Ten]

The head of Samsung Electronics' South Korean labor union stated that the company and the union failed to reach an agreement on a wage deal on Wednesday, and it is expected that more than 50,000 employees will go on a full strike, which may disrupt the production of AI and other chips. Prior to this, the two parties held marathon negotiations for several hours on Monday and Tuesday under government mediation. Union representative Choi Seung-ho said that the company did not respond to the union's request to reform the compensation plan, including removing the current bonus cap set at 50% of the annual base salary and instead calculating bonuses based solely on operating profit. The union previously stated that if its demands were not met, employees would go on an 18-day strike starting on May 21. The union representative stated that there are currently no plans to restart negotiations with management before the strike date, but he would be willing to consider it if the company proposed a "reasonable plan." The South Korean National Labor Relations Commission stated that it had proposed "various alternative plans" but decided to end the mediation process "given the large gap between the positions of the two parties and the union's request to suspend negotiations." [Golden Ten]