Samsung Electronics and its South Korean labor union reached a tentative pay deal on Wednesday, and the union suspended its planned strike while members vote on the agreement. Earlier reports had said about 48,000 workers were set to walk out on Thursday after talks failed, but the latest coverage shows the immediate strike threat has eased pending the vote.
Samsung Electronics’ strike threat eased on Wednesday after the company and its South Korean labor union reached a tentative pay deal, according to Reuters reporting cited by multiple outlets.
The union suspended its planned walkout while members vote on the agreement, replacing earlier warnings that about 48,000 workers could strike on Thursday. The latest reporting marks a sharp shift from the prior day, when talks were said to have collapsed and a strike appeared imminent.
The dispute had raised concern because Samsung is one of South Korea’s most important industrial companies and a major semiconductor producer. A strike by a large share of its workforce could have affected operations if it had gone ahead.
The immediate question now is whether union members approve the tentative agreement. If the vote succeeds, the strike should remain on hold; if it fails, the union could return to labor action.
For now, the planned Thursday strike has been suspended pending the outcome of the vote.
Revision note
Updated story to reflect the tentative wage deal and suspended strike.