Unionized workers at Samsung Biologics, the biotech arm of Samsung Group, are in the midst of a strike for the second consecutive day. The strike, initiated by the union seeking better wages and other benefits, is the first of its kind since the company’s inception in 2011. The union is pushing for a 14 percent increase in base and performance-related pay, along with additional incentives, while the company has proposed a 6.2 percent raise.
Samsung Biologics is striving to maintain operations with all available staff, although some disruptions are anticipated. The company foresees potential losses exceeding 640 billion won in the event of a full-scale strike, a significant portion of its recent sales figures. The company’s President, John Rim, has cautioned employees about the strike’s consequences, emphasizing the importance of thoughtful decision-making to prevent detrimental outcomes for both the company and its workforce.
Despite multiple rounds of talks from December to March, negotiations between the union and the company have not yielded a resolution. Legal actions were taken by Samsung Biologics to halt the strike, resulting in partial restrictions on the industrial action. The company is now appealing the court’s decision while preparing for upcoming discussions mediated by the regional labor office.
