Samsung union suspends planned 18-day chip strike after deal (opens in new tab)

Samsung Electronics and its largest South Korean labor union reached a tentative wage agreement late Wednesday, and the union suspended a planned 18-day strike that had been set to begin Thursday at the company’s domestic chip operations. The walkout plan involved about 48,000 union members, and members will vote on the tentative deal from May 22 to May 27. The dispute centered on performance bonuses and how Samsung should share profits from the AI-driven memory-chip upturn. The union had sou...