"We want 40 trillion won in bonuses": 30,000 Samsung Electronics union members gather, while a 'Samsung shareholders' rally' is held across the street

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[Financial News] The Samsung Electronics labor union will hold a "April 23 struggle resolution rally" at 1 p.m. on the 23rd near the office complex building at Samsung Pyeongtaek Campus in Gyeonggi Province. The union expects 37,000 members to gather that day.
According to the Gyeonggi Nambu Provincial Police Agency and others on the 23rd, police plan to completely restrict vehicle traffic on the large eight-lane road that runs between the office complex building and Office Building 3 inside the Pyeongtaek Campus.
The rally is being led by the industry-wide union, the core force of the joint struggle headquarters. It currently has about 74,000 members and has secured Samsung Electronics' first majority-union status. On the 15th, it also obtained legal status as a workers' representative after verification procedures by the Ministry of Employment and Labor (MOEL).
The unions argued that the cap on performance bonuses should be removed and that 15% of operating profit should be used as the bonus pool. In monetary terms, that would amount to more than 40 trillion won. If annual operating profit reaches the 30 trillion won forecast by the securities industry, they are effectively asking for up to 45 trillion won in bonuses.
That figure exceeds Samsung Electronics' 37.7 trillion won in research and development spending last year. With the company facing major investments in semiconductor production facilities, it reportedly proposed an alternative, citing future management burdens, but negotiations appear to have broken down.
The Korea Shareholder Action Headquarters, known as a Samsung Electronics shareholder group, announced a counter-rally at 10 a.m. the same day on Godeok, Pyeongtaek-si. The rally site is directly across the street, and the reported crowd size is 20 people.
The shareholder group said, "In response to the reckless demands of Samsung Electronics employees for 40 trillion won in bonuses and the closure of the world's top semiconductor plant, 5 million Samsung Electronics shareholders have risen up." It added, "We can no longer leave Samsung only to managers or only to workers. From now on, shareholders will protect and defend Samsung with one united heart."
If the union fails to reach an agreement with management, it plans to launch an all-out strike from next month 21 through June 7.
gaa1003@fnnews.com Ahn Ga-eul Reporter