A planned strike at South Korean chip giant Samsung Electronics will go ahead from Thursday, its union said, after talks on bonus payouts collapsed, raising concerns over a disruption to the country's key semiconductor industry.

South Korea's PM warned of "unimaginable" economic damage. The union wants 15% of operating profit. Samsung has offered 10%. The deadline is May 21.

Samsung Electronics and its South Korean labour union will resume government-mediated pay talks on Monday in an effort to avoid a strike planned for Thursday. The talks come after…

While crisis has put South Korea on edge, government threatened to order arbitration

Samsung Electronics management and its labour union resumed negotiations on Wednesday ahead of a threatened 18-day strike by nearly 48,000 workers starting Thursday.