Samsung Electronics and labor unions reach deadlock in wage negotiations, may face first strike in 55 years

According to news, wage negotiations between South Korea's Samsung Electronics and its labor groups have reached a deadlock. If both parties fail to make progress, it may lead to a workers' strike crisis.

# As Samsung and the union reached a deadlock in wage negotiations, the union threatened to go on strike to express their unsatisfactory demands. In this negotiation, the union demanded a huge wage increase, and Samsung's wage increase plan was far from it.

According to the information we have, the first mediation meeting held by Samsung Electronics and the National Samsung Electronics Union on February 20 failed to reach an agreement on the issue, resulting in no progress in the meeting. The two sides plan to hold a second round of negotiations tomorrow with a view to reaching an agreement. The meeting was held at the Central Labor Committee of the Sejong Government Complex. The outcome of this negotiation is crucial to the relationship and future cooperation between the two parties, and will also affect the rights and interests of employees and the company's operations. It is hoped that in future talks, the two parties can reach a consensus and resolve their differences. Before proposing a formal mediation plan, the mediation committee will listen to the statements of both parties and conduct relevant fact investigations. If both sides accept the plan, it will help end the long-running dispute; otherwise, the union has the right to strike.

The current plan offered by Samsung Electronics is to increase the basic salary by 2.8%

, while extending long-service leave and maternity leave, and providing comprehensive medical examinations for employees’ spouses. Samsung has already backed down from its previous proposed 2.5% wage increase. However, this is still well below the 8.1% increase the union is demanding. If the negotiations fail, the union will be given the right to strike and take action, which will be the first strike in the union's 55 years of existence. In 2022, the union was granted the right to strike, but did not implement a strike.

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