Market Chatter: Samsung Electronics, Labor Union Reach Tentative Wage Agreement, Strike Suspended; Shares Jump 7%

MT Newswires Live05-21 10:39

Samsung Electronics (KRX:005930) and its largest labor union appeared to agree on a proposed wage agreement, which suspended plans for a strike scheduled from May 21 to June 7, Bloomberg reported late Wednesday.

Under the proposal, Samsung Electronics will introduce a special performance bonus program for semiconductor employees tied to profitability. The 10-year scheme sets annual profit targets of 200 trillion won from 2026 to 2028 and 100 trillion won from 2029 to 2035, the report said.

Union members will vote on the proposed 2026 wage agreement from May 23 through May 28, it said.

Shares of Samsung Electronics jumped more than 7% in recent trade.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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