One after another

Samsung Electronics narrowly avoided a planned strike after labor and management reached a tentative wage agreement on May 20, just before an 18-day walkout was set to begin. The dispute over performance bonuses drew attention across Korea’s business sector because Samsung is often seen as a benchmark for labor negotiations at major companies. Business groups warned that generous bonus terms at Samsung could encourage unions at other large firms to demand similar compensation packages, potentially increasing labor costs and pressure on employers already struggling with slowing growth and intensifying global competition. [PARK YONG-SEOK]