Seoul, May 5 (IANS) Unionised workers at Samsung Biologics, the biotech arm of Samsung Group, continued their first general strike for a fifth day on Tuesday, demanding higher wages and expanded performance-based compensation.The walkout began on Friday, with about 2,800 members out of the union’s 4,000 members taking part, according to the union.It marks the first strike since the company’s establishment in 2011, reports Yonhap news agency.After wrapping up the five-day strike, the union plans …
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Seoul, May 3 (IANS) Samsung Biologics, the biotech arm of Samsung Group, has agreed to return to the negotiation table this week, a corporate official said on Sunday.The two sides will renegotiate on Monday under the mediation of the Jungbu regional employment and labor office, after the first round of talks fell through on Thursday.The strike is the first ever for the union, with the walkout entering its third day on Sunday, reports Yonhap news agency.”Our decision to respond to the labor minis…
Seoul, May 2 (IANS) Unionized workers at Samsung Biologics, the biotech arm of Samsung Group, continued to stage a strike on Saturday for a second day, according to union officials, with the union and the company showing little signs of bridging gaps over wages and other issues.The union of Samsung Biologics began the strike on Friday, marking the first walkout since the company’s establishment in 2011, reports Yonhap news agency.The union is seeking a 14 percent increase in both base and perfor…
Seoul, May 1 (IANS) Unionized workers at Samsung Biologics, the biotech arm of Samsung Group, began a five-day general strike on Friday, demanding higher wages and expanded performance-based compensation.The walkout marks the first labour strike since the company’s establishment in 2011.Samsung Biologics said it is deploying all available personnel to minimize disruption but acknowledged that some impact to operations may be unavoidable, reports Yonhap news agency.The company estimated that loss…
Seoul, April 23 (IANS) South Korean stocks rose on Thursday, led by gains in large-cap technology shares, as investors focused on corporate earnings following the United States’ indefinite extension of its ceasefire in the conflict with Iran.The benchmark Korea Composite Stock Price Index (KOSPI) gained 48.04 points, or 0.75 per cent, to 6,465.97 as of 11:20 am (local time), reports Yonhap news agency.The index opened 1.1 percent higher, tracking overnight gains on Wall Street, and briefly surpa…
Seoul, April 13 (IANS) South Korean stocks traded lower on Monday as investor concerns grew over a prolonged conflict in the Middle East after the U.S.-Iran peace talks failed to make progress, while U.S. President Donald Trump threatened a blockade of the Strait of Hormuz.The benchmark Korea Composite Stock Price Index (KOSPI) fell 68.15 points, or 1.16 percent, to 5,790.72 as of 11:20 am (local time), reports Yonhap news agency.President Trump announced a blockade of Iranian ports following ma…
Seoul, April 3 (IANS) South Korean stocks rose nearly 2.5 per cent late on Friday morning as Iran is said to be working on a protocol with Oman to monitor traffic through the Strait of Hormuz, raising hopes for the reopening of the crucial shipping waterway.The benchmark Korea Composite Stock Price Index (KOSPI) rose 128.99 points, or 2.46 percent, to 5,363.0, reports Yonhap news agency.The index opened 2.7 percent higher, rebounding from a sharp decline the previous session, and maintained its …
Seoul, April 2 (IANS) South Korean stocks dropped over 3 per cent on Thursday morning after US President Donald Trump warned that the United States would strike Iran “extremely hard” over the next few weeks.The benchmark Korea Composite Stock Price Index (KOSPI) fell 197.1 points, or 3.6 percent, to 5,281.6 as of 11:20 a.m.The index opened more than 1 percent higher, tracking overnight gains on Wall Street, but turned negative after Trump’s remarks dashed hopes for a swift end to the monthlong c…
Seoul, March 31 (IANS) South Korean stocks traded lower late on Tuesday morning, led by heavy foreign sell-offs, as an escalating conflict in the Middle East heightened concerns about global oil supplies and broader economic impacts.The benchmark Korea Composite Stock Price Index (KOSPI) fell 89.14 points, or 1.69 percent, to 5,188.16 as of 11:20 a.m.The index opened about 3 percent lower and had been under downward pressure, though some of the earlier losses were erased, reports Yonhap news age…
Seoul, March 30 (IANS) South Korean stocks traded markedly lower on Monday, led by a decline in large-cap tech shares, as an intensifying conflict surrounding Iran deepened concerns about global oil supplies and market uncertainties.The benchmark Korea Composite Stock Price Index (KOSPI) fell 216.2 points, or 3.98 per cent, to 5,222.67 as of 11:20 a.m (Seoul time), reports Yonhap news agency.The index opened nearly 5 percent lower and had been under downward pressure due to heavy foreign selling…