Negotiations between the labor union and management at Samsung Electronics continued for a second day on Tuesday, as both parties sought to resolve significant differences concerning performance-based bonuses.
These critical talks represent a final attempt to avert a widespread general strike, which is scheduled to commence later this month.
The second round of government-led mediation discussions commenced at 10 a.m. at the National Labor Relations Commission office in Sejong, following the failure of the two sides to reach a consensus after more than 11 hours of talks on Monday.
Samsung’s labor union is pushing for performance-based bonuses equivalent to 15 percent of the company’s operating profit. Key demands also include the elimination of the current bonus payout cap and the formal institutionalization of the bonus system. The union has previously announced plans to initiate a general strike starting May 21 if these demands are not met.
“We are committed to securing satisfactory outcomes for our union members. We will exert our utmost effort, whether these talks culminate in a compromise or result in a breakdown,” stated Choi Seung-ho, head of Samsung Electronics’ largest labor union, to reporters before entering the meeting.
Representing Samsung Electronics management in the discussions, Vice President Kim Hyung-ro proceeded into the meeting without addressing any questions from reporters.
This ongoing dispute occurs against a backdrop of strong financial performance. Last month, Samsung Electronics reported an impressive operating profit of 57.23 trillion won ($38.9 billion) for the first quarter. This figure marks a substantial increase from 6.68 trillion won recorded a year earlier, largely fueled by robust demand for high-end memory chips essential for artificial intelligence applications.
