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.
The 25th World Petroleum Council (WPC) Energy Congress opened in Riyadh on Sunday (11 October), running from 11 to 15 October under the theme &ldqu...
Yemen's Houthis renewed warning to airlines, airport workers, and travellers against using Saudi airports, say...
Members of Azerbaijan’s Milli Majlis and representatives of several non-governmental organisations have sent a letter to U.S. senators and me...
Leaders of countries from the Commonwealth of Independent States (CIS) have agreed to hold coordinated population censuses around 2030. They took the decision at the CIS Council of Heads of State meeting in Awaza, Turkmenistan on Friday, media reported.
The explosion at King Khalid International Airport in Riyadh on Saturday afternoon killed at least 12 people and injured a further 309, according to Saudi Arabia’s Civil Aviation Authority. The airport remains closed until further notice.
Russian President Vladimir Putin expressed surprise after Donald Trump mediated the Armenia-Azerbaijan peace agreement in 2025, the U.S. President said at a rally in New York state on Friday.
The United Nations has condemned a sharp rise in attacks on civilians in Ukraine, reporting that more than 100 people were killed and at least 429 injured in a single week as Russian strikes hit residential areas, passenger buses and critical infrastructure.
The U.S. has imposed sanctions on the International Criminal Court (ICC) on Friday (9 October) escalating tensions with European allies and potentially targeting companies that provide services to the tribunal. The move came hours after former ICC judge Navi Pillay won the Nobel Peace Prize.
Nepali authorities urged villagers on Sunday (11 October) to move to safer places after a flood in a river in the central part of the country swept away several houses and infrastructure, but there were no reports of any casualties.
France’s internal police watchdog (IGPN) is investigating 24 cases linked to student protests across the country, including an incident in which a 14-year-old boy suffered a broken jaw and shattered teeth after allegedly being struck by a police projectile.
Pope Leo XIV renewed his condemnation of the death penalty on Saturday (10 October), saying it violated the sanctity of human life and denied people the chance of redemption, days after the Pentagon announced plans to livestream a U.S. military execution.
Three people were injured in a stabbing at a further education college in Warsaw on Saturday, police said, as a series of violent incidents involving young people raised concerns about possible copycat attacks in Poland.
Palestinian President Mahmoud Abbas on Saturday postponed legislative elections due next month until 11 September 2027, and called a presidential poll for the same date, blaming Israel and the security situation in the Palestinian territories for the delay.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment