Seoul, May 19 (IANS) The Bank of Korea (BOK) has estimated that a general strike at Samsung Electronics Co. could cut 0.5 percentage point off South Korea’s economic growth this year, officials said on Tuesday.The central bank recently compiled a closed-door report on the matter and submitted it to the finance ministry, according to the officials, reports Yonhap news agency.The report estimated losses from the potential strike at around 30 trillion won (US$20 billion), noting it could take up to…
Latest National Labor Relations Commission News & Updates
Seoul, May 14 (IANS) Samsung Electronics and the government on Thursday urged labour unions at the world’s largest memory chipmaker to resume wage negotiations after government-mediated talks collapsed earlier this week.The South Korean tech giant sent an official document to its two major labour unions in what is widely viewed as a last-ditch effort to avert a strike scheduled for next Thursday.Two days of government-led mediation talks ended without an agreement Wednesday, as labour and manage…
Seoul, May 13 (IANS) Samsung Electronics and its labour union failed to reach a wage agreement on Wednesday, raising concerns over a major strike later this month that could disrupt operations at the world’s largest memory chipmaker.The breakdown came after two days of government-led mediation talks that had been viewed as a last-ditch effort to avert the strike scheduled for May 21, reports Yonhap news agency.Union and management have remained sharply divided over performance-based bonuses tied…
Seoul, May 11 (IANS) The largest labour union at Samsung Electronics on Monday reiterated its demand that the company allocate 15 per cent of operating profit to employee performance-based bonuses and remove the payout cap, warning that mediation efforts could collapse if no progress is made.Choi Seung-ho, head of the union, reaffirmed the labor group’s position ahead of follow-up mediation talks aimed at averting the union’s planned 18-day strike beginning May 21, reports Yonhap news agency.”We…