Samsung union to start vote on tentative wage deal - Taipei Times

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Shareholders have voiced opposition to the deal, which creates a bonus pool for chip employees worth 10.5% of operating profit, saying it lacked validity

AFP, SEOUL

Samsung labor union members were to vote yesterday on a tentative wage deal that could deliver hefty bonuses to chip workers and helped avert a major strike at the South Korean tech giant this week.The company and its union reached the provisional agreement late on Wednesday after government-mediated talks, avoiding a planned 18-day strike that was to start on Thursday.The dispute unfolded against the backdrop of a global artificial intelligence (AI) boom that has turbocharged Samsung’s memory chip business while lifting South Korea’s economic growth and stock market.

The logo of Samsung Electronics is pictured on a gate at the company’s headquarters in Suwon, South Korea, yesterday.