Samsung faces a union strike that could cost South Korea US$66.7 billion

Samsung Electronics executives and union reps entered a new round of government-mediated talks on May 18, 2026, as the deadline for a massive strike loomed. The union is demanding that Samsung set aside 15 per cent of its annual operating profits for bonuses – ending a policy that caps payouts at 50 per cent of annual base salary. But South Korea’s powerful business lobbies worry that any agreement by Samsung could cause the strikes to spread.