Samsung Union Seeks Transparency to Avert Strike

Samsung Electronics' largest union has expressed a desire to avoid a planned strike starting May 21 if the company improves salary transparency. According to Odaily, Choi Seung-ho, head of the Samsung Electronics union under the Samsung Group Federation of Trade Unions, stated that management's discretion over bonus distribution leads to a lack of transparency in the compensation system. The union, which is the largest at Samsung with approximately 70,000 members, represents more than half of the company's workforce. Negotiations between the union and management resumed on Monday after being paused at the end of March, with mediation from relevant South Korean government departments. The union has warned that if negotiations fail, members will strike from May 21 to June 7, potentially causing daily losses of 1 trillion won. Additionally, restoring semiconductor production lines to full capacity would incur extra costs. The union is advocating for up to 15% of each business unit's operating profit to be allocated for bonuses and for the removal of bonus caps.