Samsung Electronics' board chairman urges union to resolve pay disputes
The union says the 18-day strike could cost Samsung up to 30 trillion won as management warns of supply-chain damage.
- Samsung Electronics' largest union has escalated plans for an 18-day walkout from May 21 to June 7, demanding the company allocate 15 percent of its operating profit to bonuses.
- Membership is increasingly undercut by internal divisions, with daily withdrawal requests reaching around 1,000 at peak, largely from employees in the mobile and consumer electronics division.
- Chairman Shin Je-yoon expressed concern on Tuesday that an 18-day strike could cost Samsung Electronics up to 30 trillion won, or $20.3 billion, while damaging customer trust.
- President Lee Jae Myung warned last week that excessive labor demands could harm workers more broadly, while Industry Minister Kim Jung-kwan noted Samsung's strong performance reflects national efforts.
- AI-Driven growth has reshaped compensation structures, widening pay inequality compared to rival Hynix, which has relied more heavily on profit-sharing mechanisms.
11 Articles
11 Articles
Shin Je-yoon Warns Walkout Could Hit Chip Output, Ripple Across Economy
Get latest articles and stories on Business at LatestLY. Samsung Electronics' board chief warned of sweeping economic fallout from a looming strike, urging workers to return to the negotiating table as a dispute over chip-division bonuses escalates, according to The Korea Herald. Business News | Shin Je-yoon Warns Walkout Could Hit Chip Output, Ripple Across Economy.
Samsung Electronics board chair warns of economic fallout from planned strike
Samsung Electronics's board chairman on Tuesday expressed concerns over the potential economic impact of a planned general strike by unionized workers and called for the dispute to be resolved through dialogue, the company said. "As chairman of the board, I feel a deep sense of responsibility for the current situation and apologize for causing concern," Chairman Shin Je-yoon said in a message posted on the company's intranet. He warned that both…
Channel News Asia
The Economic TimesSamsung Electronics' board chairman urges union to resolve pay disputes
SEOUL, May 5 : The board chairman of Samsung Electronics has urged unionised workers to resolve pay disputes with management, warning that a planned strike could hurt investors and employees and have "serious consequences" for the Korean economy.In an internal memo to employees on Tuesday, Shin Je-yoon said
"Densities of billions in exports and tens of trillions in tax revenue losses"... Warnings from political and academic circles. As Samsung Electronics faces the crisis of the largest strike in its history, the Chairman of the Board expressed deep concern over the negative economic impact of the strike and called for a resolution through dialogue.
With the Samsung Electronics labor union threatening a general strike this month, Shin Je-yoon, Chairman of the Board of Directors, urged employees on the 5th to resolve issues through dialogue. Chairman Shin, who served as Chairman of the Financial Services Commission under the Park Geun-hye administration, has refrained from commenting on internal and external situations since his appointment last March. However, his unusual message is interpr…
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