2 weeks ago
1
South Korea volition prosecute all options, including exigency arbitration, to debar a labour onslaught astatine the country's biggest leader Samsung Electronics and to minimise immoderate harm if 1 does occur, its Prime Minister said connected Sunday (May 17, 2026).
The world's largest representation spot shaper and its South Korean labour national will resume wage talks connected Monday (May 18, 2026) with a authorities mediator, successful a determination that could easiness concerns implicit a perchance disruptive onslaught at the tech elephantine that accounts for nearly a 4th of the country's exports.
"Just 1 time of suspension astatine Samsung Electronics' semiconductor mill is expected to incur direct losses of arsenic overmuch as 1 trillion won ($667.68 million)," Prime Minister Kim Min-seok said aft an exigency gathering with Ministers connected Sunday.
"What is much concerning is that a temporary intermission connected semiconductor manufacturing lines leads to months of inactivity," Mr. Kim said, adding determination were worries astir economical harm ballooning to as overmuch arsenic 100 trillion won if materials had to beryllium disposed of owed to a strike.
An exigency arbitration order, which tin beryllium invoked by the Labour Minister if the state deems a quality is apt to harm the system oregon regular life, instantly prohibits concern enactment for 30 days portion the National Labour Relations Commission conducts mediation and arbitration.
It has seldom been invoked and would represent an bonzer measurement for a union-friendly administration.
The national said it would negociate successful good religion to scope an statement with management.
Samsung accounts for 22.8% of South Korea's exports and 26% of the home banal market, employing more than 1,20,000 radical and moving with 1,700 suppliers, Mr. Kim said.
