Samsung workers in South Korea approved a wage deal on Wednesday, averting a strike that had threatened to disrupt global chip supplies and dent the country's economy.
The deal comes as demand for chips for artificial intelligence (AI) data centers drives record profits and follows months of negotiations over bonuses tied to Samsung's booming semiconductor business.
In April, Samsung's first-quarter operating profit soared roughly 750% year-on-year, while its market capitalization topped $1 trillion (€859 billion) for the first time this month.
What does the deal entail?
The government-mediated agreement covers around 78,000 employees, a little more than 60% of the company's workforce, who will each be eligible to receive a bonus of roughly $370,000 (€317,904) this year.
