South Korean Government Intervenes as Samsung Electronics Faces Imminent Major Strike; Labor Talks Resume

(CNA Seoul, 18th, Comprehensive Foreign Report) Dissatisfied with wage and performance bonus plans, the union at South Korea's Samsung Electronics has threatened that nearly 50,000 employees will go on strike on the 21st. Labor and management began a new round of negotiations today under government coordination, striving to prevent a strike crisis at the tech giant, which accounts for nearly a quarter of South Korea's exports. According to Reuters, Samsung Electronics, the world's largest memory chip manufacturer, saw its first round of labor-management talks break down last week. Approximately 50,000 employees are expected to strike for 18 days starting on the 21st, which could become the largest strike in Samsung's history. A Samsung union leader told reporters before the meeting today that the union will participate in the negotiations in good faith. South Korea's Prime Minister, Finance Minister, and other officials have all expressed concern, emphasizing that a strike must be avoided at all costs and warning that it could pose significant risks to South Korea's economic growth, exports, and financial markets. South Korean President Lee Jae Myung stated on the social media platform X today: "In South Korea, which adheres to a liberal democratic system and a capitalist market economy, labor should be respected equally with business, and management rights should be respected equally with labor rights." He said that workers should receive fair compensation commensurate with their labor, and shareholders who bear risks and losses through investment should also rightly share in the company's profits. The strike could paralyze memory chip production lines, which are key components for artificial intelligence (AI) data centers, smartphones, and laptops. According to media reports, after last week's talks failed, executives from Samsung's chip division urged the union to refrain from striking, stating that hard-won semiconductor customers like Nvidia have expressed strong concerns. The report quoted a meeting participant as saying that Samsung executives indicated some customers have suggested they might temporarily halt shipments during the strike because product quality cannot be guaranteed. Samsung declined to comment on the matter. (Translation: Chang Ming-hsuan) 1150518