Samsung Union Member Sparks Controversy With Telegram Post: "Let's Push KOSPI Down to 5,000"

Union Pushes Back Against Government's Emergency Arbitration Card

Extreme Remarks Escalate: "Let's Wipe Out the Company"

Employees are commuting to Samsung Electronics Seocho Office in Seoul.

The rhetoric of the leaders of the Samsung Electronics super-company labor union, which is spearheading a general strike over the company’s incentive payment regulations, has become increasingly extreme. Following Vice-Chair Lee Songyi’s remarks such as “We will wipe out the company” and “We are prepared for a spin-off,” another comment has now sparked controversy, suggesting intentions to “bring the KOSPI back down to 5,000.”

"Let's Make the KOSPI Plunge" "Samsung Should Just Be Wiped Out"... Controversial Extreme Remarks

According to industry sources on May 18, a union member wrote in the Samsung Electronics super-company labor union’s Telegram chatroom the previous day, “Let’s make the KOSPI plunge,” adding, “The market is already overinflated, and with rising interest rates and a likely ‘small deal’ at the US-China summit, the stock market will crash on Monday. Let’s shake things up even more so that foreign investors can realize more profits.” The member further stated, “I will help President Lee Jaemyung achieve his goal of bringing the KOSPI down to 5,000.”

Given Samsung Electronics’ significant weighting on the Korean stock market, such remarks are seen as more than just internal dissatisfaction—they are interpreted as an assertion of influence over the entire market. As a result, criticism has been spreading both inside and outside Samsung, as well as among investors, claiming that the union is pushing for a hardline struggle while disregarding the burden on the national economy.

On the 23rd of last month, union members shouted slogans at the Samsung Electronics Labor Union Joint Struggle Headquarters' "Change Transparently, Realize the Abolishment of the Upper Limit - 4/23 Struggle Resolution Rally" held in front of Samsung Electronics Pyeongtaek Campus in Pyeongtaek, Gyeonggi Province. Photo by Yonhap News Agency

This is not the first time the union has made extreme statements that hold the national economy hostage. Previously, Vice-Chair Lee stated in the Telegram chatroom, “It’s right for us to just wipe out Samsung Electronics. If we need to spin off, we will.” She continued, “I’m not doing this (the general strike) for money,” and added, “I am prepared for a spin-off.” In particular, she remarked, “An emergency adjustment isn’t something that kills people,” and “If they send me to prison, I’ll just read some books and exercise.” She also said, “Stop talking about being like family. If necessary, I’ll become a gangster,” and emphasized, “Things will end in catastrophe,” and “I’ll show you how truly angry I am,” among other extreme comments.

These remarks came as the government hinted at invoking emergency arbitration powers to prevent the strike, prompting strong opposition from the union and the broader labor community. Choi Seungho, chair of the super-company labor union, also revealed that he had a preliminary meeting with management regarding post-arbitration talks, stating, “Management is pressuring the union by implying the government’s emergency arbitration powers could be invoked. It seems the company’s attitude has changed since the government mentioned emergency arbitration.” He stressed, “We will not back down.”

Internal Backlash and Shareholder Anxiety Amid Successive Inflammatory Remarks

As the union’s hardline comments have become public, reactions from insiders and investors have grown tense. Some shareholders are expressing strong dissatisfaction, stating, “Using the destruction of corporate value as a bargaining chip crosses a line.”

Signs of division are also emerging within the union. In particular, many union members are criticizing Vice-Chair Lee, who is from the DX (Device Experience) division, for taking the lead in raising the issues of ‘spin-off’ and ‘market impact’ during a strike that is primarily focused on incentive demands from the DS (Device Solutions) semiconductor division. They argue, “This has gone beyond the scope of rational labor activism,” and “It only fuels conflict between unions and promotes external isolation.”

If the Strike Materializes, Losses Could Exceed 100 Trillion Won

The Samsung Electronics union has announced plans to launch a general strike from May 21 to July 7, demanding the institutionalization of a performance bonus equivalent to 15% of operating profit and the abolition of the current cap, which is set at 50% of annual salary. The company maintains its position to keep the current Excess Value Added (EVA)-based Over-Profit Incentive (OPI) system, while offering an additional special bonus for the DS (semiconductor) division. If the strike proceeds, Samsung Electronics’ direct and indirect losses—including production disruptions and supply chain impacts—are expected to exceed 100 trillion won.

This content was produced with the assistance of AI translation services.