[News Today] Gov’t signals ‘Emergency Arbitration’

[LEAD]

With Samsung Electronics' general strike is set for this Thursday, Prime Minister Kim Min-seok urged labor and management to reach a deal, calling it their last chance in a public address. He also signaled that the government could step in if serious damage is expected. Meanwhile, the court has largely granted Samsung Electronics' injunction request against the union. That means the strike now appears unlikely to go ahead as planned.

[REPORT]

Four days before Samsung Electronics' general strike.

The government is moving busily to address the matter.

An emergency meeting of related ministers was held, and Prime Minister Kim Min-seok delivered a public address.

Kim Min-seok / Prime Minister

It’s virtually the last opportunity. Labor and management shouldn’t take it lightly.

Kim said the economic losses from the strike, if held, could reach as much as KRW 100 trillion, or over USD 66 billion.

He also warned that the impact could spread beyond Samsung Electronics to the entire national economy, causing a plunge in exports and instability in the financial market.

The prime minister went on to mention for the first time the possibility of the government invoking emergency arbitration powers.

The possibility of government meddling was mentioned to push both labor and management to reach an agreement.

Kim Min-seok / Prime Minister

We have to weigh every option, including Emergency Arbitration.

However, a government official said it is in the early stage of reviewing legal requirements. Cheong Wa Dae emphasized that resolution through dialogue is the priority.

Kang Yu-jung / Cheong Wa Dae Spokesperson

We will provide maximum support so issue can be resolved through dialogue.

The country's two major labor federations say the government's emergency arbitration would only restrict workers' right to strike.