Unionized workers at Samsung Biologics Co. have voted to authorize a strike, escalating tensions in ongoing wage negotiations, the labor union announced Monday. The potential strike hinges on the company’s response to the union’s demands for improved compensation.
In a decisive vote held Sunday, the union, representing 3,689 employees (approximately 75 percent of Samsung Biologics’ workforce), overwhelmingly approved industrial action if the company fails to meet their proposed terms.
The Samsung Biologics union is seeking an average wage increase of 14 percent, along with a substantial 30 million won (US$22,000) incentive payment. Furthermore, they are requesting performance-based bonuses equivalent to 20 percent of the company’s operating profit and a distribution of treasury shares over a three-year period.
Samsung Biologics has countered with a proposed wage increase of 6.2 percent.
Beyond compensation, the union is also advocating for increased worker influence, demanding the right to prior consent on critical management decisions, including executive appointments.
Should negotiations remain unresolved, the union has scheduled a general strike to commence on May 1 at Samsung Biologics’ facilities. This would represent the first instance of industrial action in the company’s history, since its founding in 2011.
A potential work stoppage at Samsung Biologics could significantly impact the company’s contract development and manufacturing organization (CDMO) operations, potentially disrupting production timelines and impacting global supply chains within the biopharmaceutical industry.
