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S Korea Presidential Office Regrets Breakdown in Samsung Labor Talks; Report Says Union Strike May Be Curbed
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Samsung union announced it will proceed as scheduled with a large-scale strike tomorrow (21st) after company management dismissed the government's mediation proposal, meaning nearly 48,000 Samsung workers will carry out a strike lasting up to 18 days. Blue House, the presidential residence of South Korea, expressed regret over the breakdown in negotiations between Samsung and labor representatives, urging both sides to consider the negative impact a strike would have on the national economy and to make every effort to reach an agreement before the strike deadline. The South Korea government is looking at the possibility of exercising its emergency mediation authority to restrict the union's trike action and will support Samsung in conducting a new round of negotiations, according to Yonhap News Agency. The KOSPI last dropped 1.52% at 7,160, while Samsung Electronics shares sank about 1.28% to KRW270,000. In Hong Kong, XL2CSOPSMSN (07747.HK), with lessened decline, last quoted at HKD131.35, down 5.06%. XL2CSOPHYNIX (07709.HK) was last at HKD79.96, down 1.45%. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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