Park Jae-hyuk is a seasoned journalist who has provided comprehensive coverage of South Korea's corporate dynamics, economic policies, industry challenges and the global positioning of Korean companies. Based on the articles he has written since joining The Korea Times in 2016, his investigative approach has helped readers understand corporate governance, economic trends and business strategies shaping South Korea’s economy.
Samsung Electronics, union to resume wage talks Tuesday
Members of the National Samsung Electronics Union hold a rally at the company's plant in Hwaseong, Gyeonggi Province, July 8. Korea Times photo by Shim Hyun-chul
By Park Jae-hyuk
Samsung Electronics’ labor and management will resume wage talks at its semiconductor plant in Yongin, Gyeonggi Province, Tuesday, 15 days after the National Samsung Electronics Union (NSEU) went on its first-ever strike in the tech giant's 55-year history to disrupt production, according to industry officials, Sunday.
The NSEU, the largest among the tech firm’s multiple labor unions, has asked for a 5.6 percent wage hike on average, as well as a day off on the anniversary of the union’s foundation, reform in performance-based bonus system and compensation for its members’ financial losses during the unpaid strike.
In contrast, the management has maintained a firm stance that the rate of wage increase cannot surpass 5.1 percent.
“Through continuous communication with the union, we will make efforts for a win-win relationship,” a Samsung Electronics official said.
A day before the resumption of the wage talks, the NSEU will hold a rally in an apparent attempt to maximize its bargaining power.
However, it remains uncertain how many union members will participate in the rally.
The NSEU expects at least 1,500 members to participate in the rally. This is nearly half the number of participants in a rally on the first day of the strike and only 4.3 percent of its entire members.