Alphabiz - Samsung Electronics Labor Talks Stall Ahead of Strike Deadline

Photo courtesy of Yonhap News

[Alpha Biz= Kim Jisun] Wage renegotiation talks between Samsung Electronics and its labor union have failed to narrow differences just days before a planned strike.

The National Labor Relations Commission said a post-mediation session held on May 11 at the Government Complex Sejong ended without agreement after more than 12 hours of discussions.

The union is maintaining its demand for performance bonuses equivalent to 15% of operating profit and the removal of bonus caps. The commission is set to reconvene talks on May 12 and present a mediation proposal.

If no agreement is reached, the union has warned it will proceed with a general strike starting May 21.

Meanwhile, JPMorgan estimates that a full-scale strike could result in losses of up to KRW 40 trillion in annual operating profit.

Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)