August 01, 2024 – According to a report from Yonhap News Agency, it has been revealed that Samsung Electronics and its largest labor union have failed to reach a breakthrough in wage negotiations. It remains unclear whether both parties will continue the talks, but the union has stated its intention to prolong the strike.
The management of Samsung Electronics and the National Samsung Electronics Union (NSEU) in Korea initiated a new round of negotiations this Monday, following an unsuccessful attempt to reach an agreement last week.

The NSEU had previously proposed a three-day “final negotiation” starting from Monday, on the condition that Samsung presents a satisfactory negotiation proposal. Samsung Electronics expressed difficulty in accepting the union’s demands but showed willingness to engage in constructive dialogue during the negotiations.
According to the report, the NSEU is demanding a 5.6% increase in the basic salary for all members, guaranteed leave on the union’s founding day, and compensation for economic losses caused by the strike. Samsung Electronics, emphasizing its commitment to establishing a win-win labor-management relationship, has offered a 5.1% salary increase.
Previous reports indicate that the strike began on July 8th and turned into an indefinite strike on July 10th. Despite the strike lasting for over 20 days, Samsung Electronics reports minimal impact on production.