[News Today] More talks urged as Samsung strike looms

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The Samsung Electronics union's planned strike is now just six days away.

But instead of real dialogue, both sides remain locked in a battle of nerves. The government is urging them to keep talking day after day.

For now, though, it appears to have few clear options.

[REPORT]

The government continues to signal the message that a strike must be averted.

Deputy prime minister for Economy Koo Yun-cheol said a strike at Samsung Electronics poses a significant risk to economic growth, exports and financial markets across the board.

After mediation talks fell through, the presidential office, the prime minister, deputy prime minister and even the labor minister are all exerting pressure.

Samsung's management was the first to move.

It sent a letter to the labor union proposing direct talks.

The National Labor Relations Commission also made another push.

It advised labor and management to resume mediation talks on Saturday.

Though the first round collapsed, the procedure can restart if both sides consent.

The labor union also issued a swift response.

It said it will engage in talks if a concrete plan on removing the payout cap, establishing a standardized bonus system and ensuring transparency is presented.

It asked the CEO to give a reply by Friday morning.

The union also disclosed parts of negotiations held during mediation.

It said it offered concessions of lowering the performance-based bonus ratio from 15% of operating profit to 13% and reducing the standardization period from ten to five years.

Choi Seung-ho / Chair, Samsung Electronics Labor Union (May 13)

Talks continued for 5 months without any progress in the management’s agenda.

While both sides, wary of public opinion, appear to be in a tug of war, practical negotiations on reaching a resolution are currently stalled.