Photo : YONHAP News
Labor and management at Samsung Electronics are holding another round of negotiations on the verge of an 18-day general strike planned for Thursday.
After the announcement of a labor walkout following the collapse of talks earlier Wednesday, the labor ministry said the two side are holding a meeting mediated by the Minister of Employment and Labor Kim Young-hoon.
The talks are being held at the Gyeonggi District Employment and Labor Office from 4:00 p.m.
The union wants the company to abolish the cap on bonuses set at 50 percent of annual salaries, allocate 15 percent of annual operating profit to bonuses and institutionalize the bonus structure.
Samsung Electronics said in an earlier statement that the union had insisted on what it called “unacceptable demands” that could damage the company’s management principles.
The strike at Samsung, if launched as planned, could shave up to a half percentage point off South Korea’s economic growth this year, according to an analysis by the central bank.