Samsung Electronics may have to deal with a worker strike if no progress is made on salary negotiations between the company and the labor union. The union is now threatening a strike if Samsung Electronics doesn't meet their demands.
The labor union is asking for a significant salary increase. While Samsung has offered them an increase, there's a considerable gap in the percentage that the union is asking for and what Samsung is willing to offer.
Samsung's labor union could go on strike for the first time in 55 years
No agreement could be reached during the first mediation meeting between Samsung Electronics and the National Samsung Electronics Union held at the Central Labor Commission in the Government Complex, Sejong. The second round of negotiations is going to take place tomorrow.
The labor commission will listen to arguments from both parties and look into the relevant facts prior to the main mediation session where a settlement plan would be proposed. If the proposal is accepted by both parties, it would bring to an end a long-standing dispute between the two parties, if not, the union will get the right to go on strike.
Samsung is offering a 2.8% salary increase in addition to an expansion of long-term service leave and fertility leave as well as spouse comprehensive examinations. The company has improved its offer from the 2.5% increase it had previously offered. However, it still falls short of the 8.1% increase that the labor union is demanding.
If the negotiations fall through and the union gets the right to strike goes through with it, it would be the first time in 55 years that the union strike. It had previously secured the right to go on strike in 2022 but didn't actually follow through on it.
