Unionized workers of Samsung Electronics Co. hold a rally at the company’s campus in Yongin, south of Seoul, on July 22, 2024. (Yonhap)
SEOUL, July 23 (Korea Bizwire) – Samsung Electronics Co. and its largest labor union resumed wage talks Tuesday but failed to reach an agreement, informed sources said.
The ninth round of talks was represented by Son Woo-mok, head of the National Samsung Electronics Union (NSEU), and Kim Hyeong-ro, the company’s vice president, according to the source.
It was the first wage talks between the two sides since the NSEU declared a full-scale strike July 8.
They held a preparatory meeting last week to discuss schedules for the talks.
The talks lasted nearly eight hours from 9 a.m. but ended without any significant progress, according to the sources close to the matter.
Samsung Electronics has offered a 5.1 percent increase in wages, emphasizing its commitment to building a win-win labor-management relationship
However, the NSEU is demanding a 5.6 percent basic pay raise for all members, a guaranteed day off on the union’s founding day and compensation for economic losses due to the strike.
Despite the strike lasting more than two weeks, Samsung Electronics, the world’s largest memory chipmaker, reported minimal impact on production.
Still, the prolonged strike raises concerns over potential weakening of competitiveness in the country’s crucial semiconductor industry.
The NSEU reports a total membership of 31,000, accounting for approximately 24 percent of Samsung Electronics’ total workforce of about 125,000.
(Yonhap)
