NEW SAMSUNG MANAGEMENT - UNION NEGOTIATIONS FAIL

SEOUL, MAY 20 /SRNA/ – Management and union leaders at Samsung Electronics have failed to reach an agreement on wages, increasing the likelihood of a strike at the South Korean electronics giant that could disrupt global semiconductor supplies and affect South Korea’s economy.

Government officials have threatened to use rarely applied emergency powers to force both sides to reach a settlement at Samsung. The union, representing more than 70,000 workers, says the company has not offered adequate wages despite strong profits driven by global advances in artificial intelligence. Union leader Choi Seung-ho told the press after the latest round of talks that workers will begin an 18-day strike starting tomorrow. Both the union and management blame each other for the failure of negotiations, while neither side indicated it would continue efforts to reach an agreement. A meeting with Labour Minister Kim Young-hoon is scheduled to be held during the day, the ministry said.