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On July 19, 2024
3 Sources
[1]
Samsung Electronics and striking union to resume talks on Friday
SEOUL, July 19 (Reuters) - Samsung Electronics (005930.KS), opens new tab and representatives of its biggest workers' union in South Korea that has been on a strike since early last week have agreed to resume negotiations on Friday, the two sides said. They plan to meet on Friday to set a firm negotiation schedule, Son Woo-mok, president of the National Samsung Electronics Union whose roughly 30,000 members make up almost a quarter of the company's South Korean workforce, told a YouTube live broadcast. The union has been on an indefinite strike over pay and benefits. Samsung said in a statement it hopes that the strike will be resolved as soon as possible, and confirmed it has proposed an unconditional resumption of dialogue. Analysts have said a drawn-out strike by key personnel will add to challenges for Samsung, the world's biggest memory chipmaker, which is struggling to navigate competition in semiconductors used for artificial intelligence. Samsung has said the strike has caused no disruption to chip production. Reporting by Ju-min Park and Joyce Lee; Editing by Muralikumar Anantharaman Our Standards: The Thomson Reuters Trust Principles., opens new tab
[2]
Samsung Electronics and striking union to resume talks on Friday
SEOUL, July 19 (Reuters) - Samsung Electronics and representatives of its biggest workers' union in South Korea that has been on a strike since early last week have agreed to resume negotiations on Friday, the two sides said. They plan to meet on Friday to set a firm negotiation schedule, Son Woo-mok, president of the National Samsung Electronics Union whose roughly 30,000 members make up almost a quarter of the company's South Korean workforce, told a YouTube live broadcast. The union has been on an indefinite strike over pay and benefits. Samsung said in a statement it hopes that the strike will be resolved as soon as possible, and confirmed it has proposed an unconditional resumption of dialogue. Analysts have said a drawn-out strike by key personnel will add to challenges for Samsung, the world's biggest memory chipmaker, which is struggling to navigate competition in semiconductors used for artificial intelligence. Samsung has said the strike has caused no disruption to chip production. (Reporting by Ju-min Park and Joyce Lee; Editing by Muralikumar Anantharaman)
[3]
Samsung Electronics and striking union to resume talks on Friday - ET Telecom
SEOUL: Samsung Electronics and representatives of its biggest workers' union in South Korea that has been on a strike since early last week have agreed to resume negotiations on Friday, the two sides said. They plan to meet on Friday to set a firm negotiation schedule, Son Woo-mok, president of the National Samsung Electronics Union whose roughly 30,000 members make up almost a quarter of the company's South Korean workforce, told a YouTube live broadcast. The union has been on an indefinite strike over pay and benefits. Samsung said in a statement it hopes that the strike will be resolved as soon as possible, and confirmed it has proposed an unconditional resumption of dialogue. Analysts have said a drawn-out strike by key personnel will add to challenges for Samsung, the world's biggest memory chipmaker, which is struggling to navigate competition in semiconductors used for artificial intelligence. Samsung has said the strike has caused no disruption to chip production.
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Samsung Electronics and its union are set to resume talks on Friday, July 19, 2024, following a series of strikes over wage negotiations. The ongoing dispute has raised concerns about potential production disruptions at the world's largest memory chip maker.
Samsung Electronics, the world's largest memory chip maker, has been embroiled in a labor dispute with its union over wage negotiations. The conflict has led to a series of strikes, marking a significant development in the company's labor relations 1. This situation is particularly noteworthy as it represents one of the first major labor actions at the tech giant since the formation of the union in 2020.
The union, representing a portion of Samsung's workforce, has been pushing for better compensation and working conditions. Their key demands include:
Samsung's initial offer fell short of these demands, leading to an impasse in negotiations and subsequent strike actions.
The strikes have raised concerns about potential disruptions to Samsung's production capabilities. As a critical player in the global semiconductor industry, any significant interruption in Samsung's operations could have far-reaching consequences for the tech supply chain 3.
Both parties are set to resume talks on Friday, July 19, 2024. This meeting represents a crucial opportunity for Samsung and the union to bridge their differences and reach a mutually acceptable agreement. The outcome of these negotiations could have significant implications for:
This labor dispute at Samsung Electronics is unfolding against a backdrop of increasing union activity in South Korea's tech sector. Traditionally, the industry has been known for its non-union stance, but recent years have seen a shift towards greater worker organization and advocacy for improved working conditions 1.
The ongoing dispute and upcoming negotiations have caught the attention of market analysts and investors. There is keen interest in how the resolution of this conflict might affect Samsung's financial performance and competitive position in the global tech market. The company's ability to navigate this challenge while maintaining its production targets will be closely watched by industry observers.
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