Seoul: Samsung Biologics, the biotech division of Samsung Group, is set to resume negotiations with its labor union on Monday. This decision comes as both parties have agreed to return to the discussion table following a failed initial round of talks last Thursday. The renewed talks will be mediated by the Jungbu regional employment and labor office.
According to Yonhap News Agency, the strike marks the first-ever industrial action by the union, which entered its third day on Sunday. A company source emphasized their commitment to resolving the issue through dialogue, accepting the labor ministry's request for arbitration. However, they urged the union to abandon what they described as "irrational" demands and collective action in favor of negotiation.
During the first round of arbitration, the labor union demanded that the company replace all members of its bargaining committee as a condition for continuing talks. The unionized workers have been on strike since Friday, demanding a 14 percent increase in both base and performance-related pay, a one-time cash incentive of 30 million won (approximately US$20,389.9) per worker, and bonuses equivalent to 20 percent of the company's annual operating profit. In contrast, the company has offered a combined 6.2 percent increase in base and performance pay.
The strike has seen substantial participation, with approximately 2,800 out of 4,000 unionized members taking part, as reported by the company's labor union. Samsung Biologics has expressed concerns over the financial impact of the walkout, estimating potential damages of at least 640 billion won, roughly half of the company's sales in the first quarter. The union has announced plans to continue the strike until Tuesday.