Samsung Electronics says it reaches preliminary wage deal with union


The logo of Samsung is seen in front of the company building in Seoul, South Korea, June 7, 2024. REUTERS/Kim Hong-Ji/File Photo

SEOUL (Reuters) -Samsung Electronics has reached a preliminary agreement with its main workers' union in South Korea for a wage increase of 5.1%, it said on Thursday.

Union members will vote on the deal, which includes more holidays and bonus points that can be used to purchase Samsung Electronics products and other perks, for one week starting on Thursday, the company said.

The National Samsung Electronics Union also announced the preliminary deal on its YouTube channel.

The union, whose 36,500 members make up about 30% of Samsung Electronics' South Korean workforce, went on strike in July although the company said it did not lead to any disruption in production.

(Reporting by Jack Kim and Hyun Joo Jin;Editing by Christina Fincher)

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Tech News

US regulator looks to put Google under federal supervision, Washington Post says
Fibre optic cables should be considered 'critical infrastructure' in Africa, Google says
EU fines Meta 797 million euros over abusive practices benefiting Facebook Marketplace
ASML CEO says AI boom benefits the company
Spain's La Vanguardia joins the Guardian in leaving X, citing 'toxic content'
Analysis-Crypto industry pushes for policy sea change after Trump victory
EU says Booking must comply with Digital Markets Act
Trump’s victory could ease regulatory path for Musk’s robotaxi, but hurdles remain
Siemens to cut up to 5,000 jobs in automation business after downturn
Workers stage walkout at US maker of Fallout video game

Others Also Read