LAST CHANCE:
The head of the government’s labor relations commission is expected to join the negotiations on Monday, three days before the union’s deadline of May 21
Bloomberg
Samsung Electronics Co and its largest labor union are to resume negotiations on Monday to avert a strike that the nation’s prime minister warned could wreak havoc on the economy.Management and the union representatives at the world’s biggest memory chipmaker are to meet for the talks on wages and compensation, with Samsung having reported operating profit that soared on artificial intelligence (AI)-driven demand for its semiconductors.“Along with the entire public, we earnestly request Samsung’s management and union to achieve results during the mediation tomorrow, which is virtually the last chance,” South Korean Prime Minister Kim Min-seok said in an address to the nation on Sunday. “If the strike becomes a reality, the economic damage that we have to face would be unimaginable,” he added.
Samsung Electronics’ labor union members chant slogans during a protest against the company’s compensation levels ahead of a planned strike in front of the Samsung Electronics semiconductor plant in Pyeongtaek, South Korea, April 23.
