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A minority union representing Samsung Electronics' consumer electronics workers will petition a South Korean court to halt implementation of a recently approved pay deal that disproportionately benefits the company's chip division staff.
Samsung Electronics' consumer division union has petitioned a South Korean court to halt voting on a government-brokered pay agreement, arguing it unfairly favours chip division workers with substantially larger bonuses.
Asian equities gained sharply Thursday, lifted by Nvidia's forecast-beating results and Samsung Electronics' tentative wage deal that averts a major strike. South Korea's KOSPI jumped over 8% while Taiwan rose nearly 4%.
Samsung Electronics reached a last-minute pay deal to avert a strike at its Pyeongtaek chip complex, bringing relief to South Korea's economy. However, the agreement has exposed divisions among workers, with memory chip staff receiving substantially higher bonuses than colleagues in other divisions.