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Samsung's largest labor union in South Korea has suspended the strike that was set to begin on May 21.
Samsung agreed to abolish the bonus cap and set aside 10.5% of annual operating profit for bonuses.
KEY POINTS
- 40% of the new bonus pool will go to memory division workers, higher than SK Hynix's payout ratio.
- Bonuses are contingent on the memory division making at least KRW 200 trillion profit from 2026 to 2028.
- Samsung will pay part of the negotiated bonuses in company stock for at least 10 years.
- Government intervention quickly restarted talks, with the Labor Minister mediating within hours of the strike's announcement.
COMPANIES
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