SEJONG, May 20 (AJP) -Samsung Electronics faces an unprecedented 18-day strike from Thursday after the union walked out of government-mediated marathon talks over revisions to the employee reward system at the tech giant whose market valuation has swelled to nearly $1 trillion amid the AI boom.
Management and the Korean tech giant’s largest union held three days of talks at a government complex in Sejong under the mediation of the National Labor Relations Commission (NLRC), seeking to avert a general strike involving some 50,000 workers, mostly from semiconductor production lines.
The planned 18-day walkout is feared to inflict billions of dollars in losses not only on the chipmaker but also on the broader South Korean economy, which heavily depends on chip exports.
Shares of the No. 1 stock fell 2.5 percent to 269,500 won ($178.7) following the news.
Copyright ⓒ Aju Press All rights reserved.
