Samsung Electronics reached a last-minute agreement with its union to prevent an 18-day strike. The deal covers approximately 48,000 workers within the company's semiconductor division.
A new 10-year special bonus plan allocates 10.5% of the chip division's operating profit to staff. These bonuses will be paid primarily in company stock. Payouts remain conditional on the division meeting ambitious profit targets.
The union demanded the deal to match bonus structures at rival SK Hynix and prevent talent poaching. The dispute followed a period where the AI boom generated massive profits for memory chips while the foundry unit remained loss-making. Samsung shares surged nearly 8% following the announcement.