Samsung Electronics shares jump after strike suspended following tentative pay deal
ReutersLast updated: May 21, 2026 at 08:10:00 IST
Synopsis
Shares of Samsung Electronics jumped more than 6% after the tech giant and its union reached a tentative pay deal, averting a possible strike. The planned 18-day walkout by nearly 48,000 members will be suspended pending a vote on the deal. This development boosted the KOSPI benchmark index.
ReutersSamsung shares jumped Thursday after reaching a tentative wage deal with its union.Shares of Samsung Electronics rose 6.5% Thursday morning after “the tech giant and its South Korean union reached a tentative agreement on wages, potentially averting a strike that had threatened to hit the economy and undermine the global economy.” » chip supply chains.
The union said the planned 18-day strike by nearly 48,000 members would be suspended while the tentative agreement was put to a vote between May 22 and 27.
The benchmark KOSPI index was up 4.6% by 0005 GMT.
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