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On July 23, 2024
4 Sources
[1]
Samsung Electronics talks with union end without result, union says - ET Telecom
SEOUL: Samsung Electronics and representatives of its biggest workers' union in South Korea, which has been on a strike, met on Tuesday but the talks ended without results, the union said. Since earlier this month, the union has been on an indefinite strike over pay and benefits. The gap between the two sides is too wide to reach any agreement, Lee Hyun-kuk, vice president of the National Samsung Electronics Union whose roughly 30,000 members make up almost a quarter of the company's South Korean workforce, said on a YouTube live broadcast. Union officials called on the company to bring a fresh offer to the negotiating table by July 29 and plan to hold ultimate talks with the company through July 31, they said. 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.
[2]
Samsung Elec talks with union end without result, union says
SEOUL, July 23 (Reuters) - Samsung Electronics and representatives of its biggest workers' union in South Korea, which has been on a strike, met on Tuesday but the talks ended without results, the union said. Since earlier this month, the union has been on an indefinite strike over pay and benefits. The gap between the two sides is too wide to reach any agreement, Lee Hyun-kuk, vice president of the National Samsung Electronics Union whose roughly 30,000 members make up almost a quarter of the company's South Korean workforce, said on a YouTube live broadcast. Union officials called on the company to bring a fresh offer to the negotiating table by July 29 and plan to hold ultimate talks with the company through July 31, they said. 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; editing by Jason Neely)
[3]
Samsung Elec talks with union end without result, union says
The gap between the two sides is too wide to reach any agreement, Lee Hyun-kuk, vice president of the National Samsung Electronics Union whose roughly 30,000 members make up almost a quarter of the company's South Korean workforce, said on a YouTube live broadcast. Union officials called on the company to bring a fresh offer to the negotiating table by July 29 and plan to hold ultimate talks with the company through July 31, they said. 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.
[4]
Samsung talks with union end without deal: report
Talks to end the strike between Samsung's (OTCPK:SSNLF) largest union and the South Korean technology giant ended without a deal, Reuters reported. The two sides met on Tuesday but were unable to reach an agreement, the news outlet added, citing the union. Lee Hyun-kuk, vice president of the 30,000 member-strong National Samsung Electronics Union, said the gap between both parties is "too wide" at the moment. Samsung and representatives of the union agreed to resume discussions this past Friday. What was initially a three-day strike turned "indefinite" earlier this month as unionized workers at Samsung have tried to pressure the South Korean tech giant to provide higher wages and better benefits. Of the 30,000 employees that are a part of the union, roughly 6,500 have walked out, including 5,000 of those in the company's semiconductor division. Samsung has repeatedly said the labor strife has not impacted semiconductor production. Samsung accounted for 18% of the global foundry market last year, according to consulting firm TrendForce. Taiwan Semiconductor Manufacturing (TSM) accounted for 52%. More on Samsung Electronics Samsung: One Ring To Rule Them All? Not Quite, But There's Value Here Samsung Brings AI To Wearables And Foldables Samsung: 3nm Semiconductor Innovations Driving Market Dominance Samsung and unions striking over pay, benefits to restart talks on Friday - report Samsung to acquire British AI startup Oxford Semantic
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Samsung Electronics' wage talks with its union have concluded without reaching an agreement. The union is considering its next steps, including the possibility of industrial action.
Samsung Electronics, the world's largest memory chip and smartphone maker, has hit a roadblock in its wage negotiations with the company's union. The talks, which concluded on Tuesday, failed to produce a mutually agreeable outcome, leaving both parties at an impasse 1.
The union, representing Samsung Electronics workers, has expressed its dissatisfaction with the outcome of the negotiations. In response to the failed talks, the union is now contemplating its next course of action. This includes the possibility of initiating industrial action, which could potentially disrupt the company's operations 2.
This development is particularly significant given Samsung's historical stance on unions. For decades, Samsung had maintained a union-free policy, making the current negotiations a notable departure from its past practices. The formation of the union and these wage talks represent a shift in the company's labor relations landscape 3.
The outcome of these negotiations could have far-reaching implications not only for Samsung but for the broader South Korean technology sector. As a major player in the global electronics industry, any disruption to Samsung's operations could potentially impact global supply chains and market dynamics 4.
With the talks ending in a stalemate, both Samsung Electronics and the union are at a critical juncture. The company will need to carefully navigate this situation to maintain productivity and employee satisfaction. Meanwhile, the union's decision on whether to pursue industrial action could set a precedent for future labor negotiations in the South Korean tech industry 1.
As the situation unfolds, industry observers and stakeholders will be closely monitoring developments, given Samsung's significant role in the global technology landscape and the potential ripple effects on the broader market.
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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.
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