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Strike threat: Samsung Electronics fails to reach deal with union May 15, 2026  SEOUL – Samsung Electronics and its union failed to reach a pay deal on Wednesday,heightening the risk of a massive strike that threatens not only chip production, the company's standing, but also the health of the South Korean economy. The impasse followed marathon government-mediated talks on Monday and Tuesday. Underscoring the angst caused by the potential strike, South Korea called an emergency meeting for related ministers. There, Prime Minister Kim Min-seok instructed the government to closely manage the situation "considering the gravity of the impact on the national economy", a statement from his office said. He also urged "proactive support to ensure dialogue between the union and management can continue so this doesn't lead to a strike under any circumstances," it added.Shares in Samsung, the world's largest memory chip maker as well as a key provider of AI chips, initially tumbled as much as 6 percent but were later trading 0.7 percent lower after the news of the emergency ministerial meeting. |
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