Unionized employees at Samsung Biologics, the prominent biotech subsidiary of Samsung Group, are continuing their strike into a second day this Saturday. According to labor union officials, little progress has been reported in ongoing negotiations between the union and company management regarding crucial wage increases and other employee benefits, leading to a persistent impasse.
This significant industrial action by the Samsung Biologics union commenced on Friday, marking a historic moment as it represents the first-ever walkout since the company’s establishment in 2011, underscoring the gravity of the current labor dispute.
At the core of the dispute, the Samsung Biologics labor union is demanding a substantial 14 percent increase in both base salaries and performance-related compensation. Furthermore, their demands include a one-off cash incentive of 30 million won per worker and performance bonuses equivalent to 20 percent of the company’s annual operating profit.
