South Korean workers manufacturing chips for Samsung Electronics are set to vote on a pay deal that could see some of them receive $416,000 in bonuses.
A government-mediated deal reached by union leaders and management from the South Korean electronics company on Wednesday (20 May) staved off an 18-day strike.
The proposed walkout threatened inflicting significant pain on Seoul’s economy and disrupting the global supply of chips.
Under the deal, all Samsung chip workers will receive half of their annual salary as a regular bonus in cash, according to the union.
On top of that, Samsung will set aside 10.5% of the chip division's operating profit for special bonuses which will take the form of stock.
Samsung’s chip complex in the southwest of the South Korean capital is the firm’s largest semiconductor production site, manufacturing chips that have been in high demand since the artificial intelligence (AI) boom.
At rival South Korean chipmaker SK Hynix, some workers earned triple the performance pay of Samsung workers in 2025.
The disparity fuelled frustration among Samsung workers and resulted in employees leaving for SK Hynix.
Voting on the pay deal is being conducted electronically and will run until 27 May. The union has said it expects the agreement to be approved by workers.
News of the deal between Samsung and the union resulted in an 8.5% surge in the firm’s share price on Thursday (21 May) to a record high.
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