SvmuuNews Reported by Nikkei, the head of Samsung Electronics' largest union stated that if the company improves salary transparency, the union hopes to avoid the strike originally scheduled to begin on May 21. Choi Seung-ho, head of the Samsung Electronics union under the Samsung Group Federation of Unions, stated that management's ability to decide bonus payments autonomously makes the compensation system "lack transparency."
As Samsung's largest union, it has approximately 70,000 members, accounting for over half of the company's total workforce. The union resumed negotiations with management on Monday, following talks that were suspended at the end of March and later resumed under the mediation of relevant South Korean government departments.
The union warned that if negotiations fail, members will strike for 18 days, from May 21 to June 7. It estimates the strike could cause daily losses of 1 trillion won (approximately $680 million), with additional costs required to restore semiconductor production lines to full capacity. The union hopes to allocate up to 15% of each business division's operating profit for bonuses and to remove the bonus cap. (Jin Shi)