SEOUL, May 19 (AJP) - Samsung Electronics and its largest labor union returned to the negotiating table on Tuesday for a second day of government-mediated talks, with a planned full-scale strike just two days away.
Negotiators from both sides are working to reach a deal over disputes involving wages and performance bonuses following massive profits fueled by an unprecedented artificial intelligence (AI)-driven semiconductor supercycle.
According to Samsung insiders, the closed-door session is underway at the National Labor Relations Commission (NLRC) in the administrative city of Sejong, in a last-ditch effort to avert the union's planned 18-day walkout scheduled to begin Thursday unless a deal is reached in time.
The main focus of Tuesday's talks is whether the NLRC can put forward a final proposal acceptable to both sides. If accepted by management and union leaders, the mediated proposal will carry the same legal binding force as a collective bargaining agreement.
Both sides reportedly tried to narrow their differences over profit-sharing for employees as well as caps on salary increases in their talks the previous day.
Park Jung-bum, an NLRC official, was cautiously optimistic, saying both sides engaged constructively and are "finding common ground."
Although talks are scheduled to end by 7 p.m., industry watchers expect the tug-of-war bargaining to continue late into the night or even into the next day, given the urgency of averting a strike that could have widespread economic repercussions across the country.
Government authorities are also on high alert, having previously warned they could step in to halt the walkout if it poses a serious threat to the national economy.
Negotiators from both sides are working to reach a deal over disputes involving wages and performance bonuses following massive profits fueled by an unprecedented artificial intelligence (AI)-driven semiconductor supercycle.
According to Samsung insiders, the closed-door session is underway at the National Labor Relations Commission (NLRC) in the administrative city of Sejong, in a last-ditch effort to avert the union's planned 18-day walkout scheduled to begin Thursday unless a deal is reached in time.
The main focus of Tuesday's talks is whether the NLRC can put forward a final proposal acceptable to both sides. If accepted by management and union leaders, the mediated proposal will carry the same legal binding force as a collective bargaining agreement.
Both sides reportedly tried to narrow their differences over profit-sharing for employees as well as caps on salary increases in their talks the previous day.
Park Jung-bum, an NLRC official, was cautiously optimistic, saying both sides engaged constructively and are "finding common ground."
Although talks are scheduled to end by 7 p.m., industry watchers expect the tug-of-war bargaining to continue late into the night or even into the next day, given the urgency of averting a strike that could have widespread economic repercussions across the country.
Government authorities are also on high alert, having previously warned they could step in to halt the walkout if it poses a serious threat to the national economy.
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