Samsung Electronics Union Seeks Pay Transparency to Avoid Strike

The company’s largest union, representing about 70,000 workers, says stronger disclosure on compensation could prevent an 18-day walkout from May 21 to June 7.

Summary

Samsung Electronics’ largest union says it wants to avoid a strike beginning May 21 if management improves pay transparency. The union, which has about 70,000 members, warned that an 18-day strike running through June 7 could inflict daily losses of 1 trillion won (about $680 million).

Terms & Concepts
  • Strike: A labor stoppage in which workers stop working to pressure an employer over wages or working conditions.
  • Pay transparency: Clear disclosure of how compensation is set and distributed across employees or job levels.
  • Daily losses: Estimated financial damage recorded for each day operations are disrupted.