Samsung Electronics' shares jump after tentative wage deal suspends strike

ReutersLast Updated: May 21, 2026, 08:10:00 AM IST

Synopsis

Samsung Electronics' shares surged over 6% after the tech giant and its union reached a tentative pay deal, averting a potential strike. The planned 18-day walkout by nearly 48,000 members will be suspended pending a vote on the agreement. This development boosted the benchmark KOSPI index.

Samsung Electronics' shares rose as much as 6.5% in morning trade on Thursday after ‌the ⁠tech ⁠giant and its South Korean union reached a tentative pay deal, potentially averting a strike that had ⁠threatened to ‌hit the economy and undermine ⁠global chip supply chains.

The union said the planned 18-day strike by nearly 48,000 members would be suspended while the ‌tentative agreement is put to a vote between May ⁠22 and 27.

The benchmark KOSPI was up 4.6% as of 0005 GMT.

...moreless

...moreless