Samsung labor and management’s “last-ditch negotiation” collapses… Union to hold a press conference at Lee Jae-yong’s residence tomorrow.

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, “Samsung Electronics labor and management engaged in a three-day ‘final negotiation’ over wage increases and performance bonus system improvements, but ultimately failed to reach an agreement. The union plans to hold a press conference urging a resolution to the strike in front of Lee Jae-yong’s residence, the chairman of Samsung Electronics.”,
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, “The nationwide Samsung Electronics labor union, the Federation of Korean Trade Unions (FKTU), announced on the afternoon of the 31st that the negotiations with the management had finally collapsed.”,
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, “Previously, the FKTU had been conducting an indefinite general strike since the 8th, and from the 29th to this day, they had planned to hold the final round of negotiations. The union demanded a 3.5% increase in the basic wage rate for all union members, guaranteed one day of leave for the establishment of a labor union, improvements in the performance bonus system, compensation for economic losses incurred by union members due to the strike, but it seems that they failed to find common ground with the management.”,
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, “With the failure of the labor-management agreement, it appears that the FKTU will continue the strike for the time being. Immediately after the negotiations, the union stated, ‘Chairman Lee Jae-yong has not expressed any position on this situation (the strike)’, and announced that they will hold a press conference urging a resolution to the strike in front of the chairman’s residence in Yongsan, Seoul on the morning of August 1st. The FKTU criticized, ‘Chairman Lee declared the end of Samsung’s ‘no union’ policy in 2020, but in reality, he continues to practice the ‘no union’ management by identifying and blacklisting union members participating in the strike.'”,
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, “The FKTU, composed mainly of semiconductor division (DS) employees who did not receive performance bonuses due to the downturn in the semiconductor industry last year, represents approximately 29% of the total employees (around 35,000 out of 120,000 employees). Since last year, labor and management have held dozens of negotiations over the wage agreements for 2023 and 2024, but with the breakdown of the main negotiations and even the intervention of the Central Labor Relations Commission ending fruitlessly, they resorted to a strike.”,
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, “The FKTU, representing 5 unions within the company, has the ‘representative bargaining rights’ which allow them to negotiate with the management. This right expired on August 4th. If other unions demand bargaining rights, the FKTU will lose its status as the representative union and will not be able to sustain the strike. However, the Samsung Group pioneer union Samsung Electronics division (formerly DX union) announced on the 26th that they support the FKTU’s strike regardless of the past and present relationship, making it less likely for FKTU to lose its representative status soon.”