Samsung Electronics' board chairman urges union to resolve pay disputes

The board chairman of Samsung Electronics has urged unionised workers to resolve pay disputes with management, warning that a planned strike ‌could ⁠hurt investors ⁠and employees and have "serious consequences" for the Korean economy.

In an internal memo to employees on Tuesday, Shin Je-yoon said he was "worried about losing market leadership amid ⁠fleeing customers ‌and falling competitiveness" if strikes disrupted deliveries and ⁠production, according to a Samsung statement.

Such disruption at the chipmaker, South Korea's largest company by revenue, could trigger capital outflows, a drop in national tax revenue, and a ‌weakening of the won currency, he said.


"It's time to resolve the problem ⁠through sincere dialogue," Shin said.

Unions at the chipmaking giant have threatened industrial action to secure a bonus increase, with plans to strike for 18 days from May 21.