Samsung, labor union likely to resume wage talks in early October

Samsung Electronics Co. and its labor union are likely to resume their talks over a wage increase and others in early October at the earliest, industry sources said Thursday. Early this month, members of the National Samsung Electronics Union (NSEU), the largest labor union of the South Korean tech giant, returned to work as they have held several rounds of talks since January but have been unable to narrow their differences over the wage increase rate, vacation system and bonuses. The NSEU, representing 31,000 workers, or about 24 percent of Samsung Electronics' 125,000-strong workforce, had been on a full-scale strike for about a month before returning to work. The union has been demanding a 5.6 percent basic pay raise for all members, a guaranteed day off on the union's founding day and compensation for economic losses due to the strike. Samsung Electronics has offered a 5.1 percent increase in wages, while emphasizing its commitment to building a win-win relationship with the labor union. Early this month, the NSEU lost its status representing the tech behemoth's other labor union and a right for a strike. The sources said the NSEU may regain its status for wage talks via a tie with the other labor union after required processes are completed, which will take about a month. Source: Yonhap News Agency