May 17, 2026, 3:11 PM

South Korea says it will pursue all options to avoid Samsung strike

South Korea's government stated it will pursue all available options to prevent a strike at Samsung Electronics, warning of significant risks to the nation's economic growth, exports, and markets. The union plans to strike for 18 days starting May 21.

Government officials, including the prime minister and finance minister, have expressed concerns that a strike at the world's largest memory chipmaker must be avoided "at all costs." Finance Minister Koo Yun-cheol emphasized the potential negative impact on South Korea's economic trajectory.

Negotiations between Samsung Electronics and its South Korean labor union over pay and bonus schemes collapsed this week. The union has stated it remains committed to its strike plan, even after the company proposed resuming pay talks without conditions.

The union indicated a willingness to hold new talks after June 7, while maintaining its strike plans. This situation has heightened concerns about potential production disruptions at Samsung.

Samsung Electronics' shares saw a decline of up to 9.3% following the union's stance. The union has cited a lack of fresh proposals from the company as a factor in maintaining its strike plans.

Sources