Small Business Community Urges Samsung Electronics Union to Halt Strike, Citing Economic Damage

Press Conference Held at Samsung Electronics Pyeongtaek Campus

The small business community has voiced concerns that the large-scale general strike recently announced by the Samsung Electronics labor union “will deliver a devastating blow to the entire South Korean economy.”

In front of Samsung Electronics Pyeongtaek Campus in Pyeongtaek, Gyeonggi Province, the Samsung Electronics Labor Union Joint Struggle Headquarters is holding the "Change Transparently and Achieve the Elimination of Caps - 4/23 Struggle Resolution Rally." Photo by Yonhap News Agency

On May 19, the Korea Federation of Micro Enterprises held a press conference in front of the Samsung Electronics campus in Pyeongtaek, Gyeonggi Province. The association stated, “The Samsung Electronics union’s demand for ‘a performance bonus equivalent to 15% of operating profit’ causes significant feelings of deprivation among many small business owners,” and urged, “We call for the immediate withdrawal of the strike, which threatens the survival of neighborhood businesses.”

The association pointed out that if the strike by the Samsung Electronics union leads to disruptions in semiconductor production, it could directly result in management difficulties for numerous small and medium-sized enterprises in the materials, components, and equipment sectors. This would, in turn, lead to a decline in revenue for small business owners who support the local commercial districts surrounding large corporations. Furthermore, they expressed concern that if the key engine of the nation’s exports comes to a halt, the resulting damage and the pain of rising prices would be directly passed on to small business owners and the general public.

The association emphasized, “A labor movement that lacks a spirit of coexistence cannot win public support,” and added, “Now is not the time to hold the economy hostage through strikes, but rather, it is a time for companies, workers, and small business owners to unite and overcome the crisis together.”

The association called on the Samsung Electronics labor union to: ▲ immediately withdraw the general strike ▲ halt industrial action and establish a labor-management relationship based on dialogue, mutual growth, and cooperation ▲ participate in efforts to stabilize the national economy.

Lee Sangbaek, president of the Gyeonggi branch of the association, also conveyed the urgent voices from the local commercial districts supporting the Samsung Electronics industrial complexes in Pyeongtaek, Hwaseong, and Yongin. He urged the union to stop extreme industrial actions that could paralyze the entire regional economy, and instead pursue dialogue and coexistence.

Song Chiyoung, president of the association, said, “I hope that labor and management at Samsung Electronics will reach a reasonable agreement based on partnership instead of confrontation,” adding, “For the survival of South Korea’s small business owners and the stability of the people’s economy, we will closely monitor the situation and continue to represent the voices of those on the ground.”

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