Reported by Consejeros Editorial Team
Samsung shares rise by 8% after reaching a last-minute agreement with the unions, averting an 18-day strike due to begin yesterday. The strike had raised concerns within the government over a potential disruption to the global supply of semiconductors.
The South Korean company’s union stated that the provisional agreement will be put to a vote by its members between 23 and 28 May. The consensus was reached following intense pressure from the government and business organisations, and under the direct mediation of the Minister of Labour, Kim Young-hoon, after both sides had declared negotiations broken off on Tuesday night,
Shares rose by 6.24% yesterday morning in Seoul.
Although the strike has been averted, the company now faces a potential legal battle as a group of shareholders believe the agreement reached is unlawful, as it includes bonuses of $400,000 for some workers.
