Samsung shares soar as strike averted, but bonuses of $416,000 for some stoke concern

This is AI generated summarization, which may have errors. For context, always refer to the full article.

SAMSUNG ELECTRONICS. Choi Seung-ho, head of Samsung Electronics union and Yeo Myung-koo, head of the People Team under Samsung's Device Solutions division and the company's chief management negotiator, pose for photographs after reaching a tentative pay deal in Suwon, South Korea, May 20, 2026.

Yonhap via Reuters

A planned 18-day strike by some 48,000 union members has now been suspended, while the agreement, which was mediated by the government, is put to a vote between May 22 and May 27

PYEONGTAEK, South Korea – Samsung Electronics’ shares surged on Thursday, May 21, after it clinched an 11th-hour deal with its South Korean union to avert a strike, although the terms which included bonuses of around $416,000 for some workers gave rise to some concern.