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Samsung Union Strike Deferred on Prelim Pay Deal; KOSPI Leaps 5%+
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Samsung management and labor representatives signed a Preliminary Agreement on 2026 Performance Bonuses yesterday (20th), Yonhap News Agency reported. The Samsung union announced that the general strike originally scheduled from May 21 to June 7 will be deferred until further notice. All union members will vote tomorrow (22nd) on the provisional proposal for the 2026 wage agreement. KOSPI spiked 5.5% this morning (21st) to 7,604. The two heavyweight stocks advanced, with Samsung Electronics (005930.KS) leaping more than 5% to KRW290,250, and SK Hynix (000660.KS) rallying more than 4% to KRW1.819 million. Under the agreement, Samsung will maintain its current year-end performance bonus scheme, while introducing a special semiconductor performance bonus for its Semiconductor & Device Solutions division. Samsung will allocate 10.5% of its results performance as special bonuses. If the "performance" stipulated in the agreement refers to operating profit, employees could receive up to approximately KRW540 million (approximately USD360,000) per person in performance bonuses in the form of treasury shares. 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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