In the morning of the day, the unions confirmed that the strike scheduled for the period of May 21 - June 7, which could have affected 50,500 employees out of a total of 125,000, will take place. However, a new round of negotiations, mediated by the Minister of Labor, led to a principle agreement. The Minister appreciated the dialogue maintained until the last moment. As a result, the Samsung Electronics Labor Union (SELU) announced that the strike is postponed "until further notice" and will submit the provisional salary agreement to a vote by members between May 23-28. The company confirmed the agreement on salaries and collective bargaining, promising to learn from this experience. The labor conflict arises in the context of a boom in artificial intelligence, with a record net profit of 27 billion euros in the first quarter of 2026. The unions are demanding a 7% salary increase, the elimination of bonus caps, and the allocation of 15% of operational profit for bonuses. A strike would have had a significant economic impact, with Samsung representing 12.5% of South Korea's GDP.
Sources
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