Samsung Electronics, striking labor union resume wage talks

Samsung Electronics Co. and its largest labor union resumed wage talks Tuesday, a source close to the matter said, marking their first meeting in about two weeks since the union went on a strike. The ninth round of talks was represented by Son Woo-mok, head of the National Samsung Electronics Union (NSEU), and Kim Hyeong-ro, the company's vice president, according to the source. It was the first wage talks between the two sides since the NSEU declared a full-scale strike July 8. They held a preparatory meeting last week to discuss schedules for the talks. Samsung Electronics has offered a 5.1 percent increase in wages, emphasizing its commitment to building a win-win labor-management relationship However, the NSEU is demanding a 5.6 percent basic pay raise for all members, a guaranteed day off on the union's founding day and compensation for economic losses due to the strike. Despite the strike lasting more than two weeks, Samsung Electronics, the world's largest memory chipmaker, reported minimal impa ct on production. Still, the prolonged strike raises concerns over potential weakening of competitiveness in the country's crucial semiconductor industry. The NSEU reports a total membership of 31,000, accounting for approximately 24 percent of Samsung Electronics' total workforce of about 125,000. Source: Yonhap News Agency