Samsung Union Suspends Strike After Reaching Tentative Deal On Bonuses

The strike would have impacted Samsung's memory chip production.

Chung Sung-jun/Getty Images

Samsung's largest labor union in South Korea has suspended the strike that was set to begin on May 21 after reaching a tentative deal with the company. Nearly 48,000 workers would have walked out for the strike, which was scheduled to last for 18 days. And since most of those workers belong to Samsung's memory division, its biggest moneymaker, it could have had a huge financial impact on the company and on South Korea as a whole.

Union leader Choi Seung-ho has announced that the unionized workers will vote on the tentative agreement from May 22 to 27. A final agreement will only be reached after voting is done. "With a humble attitude, we will build a more mature and constructive labour-management relationship to ensure that such an incident never happens again," Samsung said in a statement.

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