Samsung Electronics urges union to resume talks as strike threat looms

Samsung Electronics on Thursday proposed that its South Korean labour union resume pay talks after government-mediated negotiations fell apart, a union leader said, citing a letter from the company.

South Korea's Labour Commission ‌also called ⁠on ⁠the two sides to hold another round of government-mediated talks on Saturday in a bid to avert a threatened lengthy strike.

"There is no reason to continue the dialogue without institutionalisation and transparency," union representative Choi Seung-ho said in ⁠response to ‌the letter, referring to the union's demand for an overhaul of Samsung's ⁠bonus scheme.


Samsung Electronics was not immediately available for comment.

Angry over what it calls a massive gap in bonus pay with chipmaker SK Hynix, the union has planned an 18-day strike from May 21 if its demands are not met.

Finance Minister Koo Yun-cheol ‌said on Thursday that a strike should be averted no matter what, saying it would be ⁠a significant risk to South Korea's economic growth, exports and markets.

The economy has become increasingly dependent on booming chip exports. Semiconductors accounted for 37% of the country's exports in April, up from 20% a year earlier, according to government data.