"A strike at Samsung Electronics must never happen... the government will support it to the end," says Deputy Prime Minister Koo Yun-cheol

[Financial News]\r\n\r\n
Koo Yun-cheol, Deputy Prime Minister for Economic Affairs and Minister of Economy and Finance, urged Samsung Electronics and its labor union to reach a swift agreement, saying that "a strike must never happen" after their wage talks broke down. The message was interpreted as a call for both labor and management to make responsible decisions, given the semiconductor industry's major impact on the national economy.\r\n According to relevant ministries on the 13th, Koo said on X, the social networking service formerly known as Twitter, that "the government deeply regrets that labor and management negotiations at Samsung Electronics could not be settled even through the government's post-mediation efforts." He added, "No matter what happens, the government will support the process to the end so that the issue can be resolved through principled negotiations."
 He also stressed, "Taking into account the current business conditions and the impact on the national economy, both sides must continue working to achieve principled negotiations," and added, "A strike must never happen."
 Earlier, Samsung Electronics and its union had continued talks over wages and performance bonuses, but failed to reach a final agreement. The union has since hinted at the possibility of a strike.
 Koo also took a cautious stance on the labor dispute at a press briefing held on the 11th at Government Complex Sejong. At the time, he said of Samsung Electronics' earnings, "The efforts of Samsung's internal management team must have been significant, but in a broader sense, suppliers may also have contributed, and there were also the government's efforts to provide infrastructure such as power transmission and distribution investments and power plants, as well as the efforts of local governments." He then said, "I once again ask both labor and management to make wise decisions."
\r\n
syj@fnnews.com Seo Young-jun Reporter