Dramatic Agreement Reached on Eve of Samsung Electronics General Strike... Minister Kim Young-hoon: "Showcased Korea's Strength in Dialogue" (Update)

Official Signing of the 2026 Performance Bonus Tentative Agreement Between Labor and Management

On the eve of the planned general strike at Samsung Electronics, an agreement was reached as Minister of Employment and Labor Kim Young-hoon personally intervened and successfully mediated between labor and management. The union has decided to postpone the general strike and put the tentative agreement to a vote among its members.

Yonhap News Agency

Minister Kim stated, "Supporting democracy means believing in the power of dialogue to solve the common challenges we face," adding, "I am grateful that labor and management were able to reach a tentative agreement through autonomous negotiations."

At approximately 10:40 p.m. on May 20, Samsung Electronics labor and management officially signed the 2026 performance bonus tentative agreement at the Gyeonggi Regional Employment and Labor Office.

Choi Seungho, head of the Samsung Electronics branch of the Samsung Group Enterprise Union, said, "This agreement is the result of the tireless efforts and struggles of the enterprise union and the joint action headquarters over the past six months," adding, "We will do our utmost to ensure that labor-management relations at Samsung Electronics can be stabilized going forward."

Yeo Myung-koo, head of the DS People Team at Samsung Electronics, said, "We will make sure that this tentative agreement becomes the starting point for building a labor-management culture of mutual growth," and emphasized, "The company will faithfully implement the terms of this agreement."

After the second post-mediation session by the Central Labor Relations Commission failed to reach an agreement, Minister Kim once again stepped in as mediator between labor and management. He said, "Above all, this agreement was made possible thanks to the people of Korea, who have been watching with anxious hearts amid difficult domestic and international circumstances," and requested, "Please ensure that the agreement is smoothly implemented so that Samsung Electronics employees can once again devote themselves to their work." He added, "In a sense, this is growing pains," and remarked, "We have shown the unique strength of Korea in resolving an unprecedented situation through dialogue." Finally, Minister Kim said, "I hope that, true to Samsung's reputation for excellence in both technology and labor relations, the company will resolve this matter well."

As a result, the general strike scheduled for May 21 has been postponed until June 7. The union plans to hold a vote on the tentative agreement. If the union members approve the agreement, the labor-management conflict at Samsung Electronics, which has lasted for nearly six months, will finally come to an end.

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