Samsung Electronics workers vote in favor of new labor agreement
![The logos of Samsung Electronics are seen on the top of a building at the company's headquarters in Suwon, Gyeonggi, on May 22. [AP/YONHAP]](https://image.koreajoongangdaily.com/12536459.webp?imageId=12536459&width=960&height=640&format=jpg)
Samsung Electronics workers voted to ratify a tentative labor agreement, with 73.7 percent of participating members voting in favor, the union announced Wednesday.
A total of 62,616 of the 65,593 eligible voters reportedly cast ballots — a turnout of more than 95 percent — with 46,142 voting in favor.
Voting ran from last Friday to 10 a.m. Wednesday.
The company's labor and management had been deadlocked since late last year over performance-based bonuses linked to profits from the company’s AI-driven semiconductor business amid the continuing global memory chip boom.
The agreement, reached earlier this month, includes a new performance bonus system that would pay employees in Samsung's profitable chip division up to 600 million won ($400,000) in company stock if the company hits 300 trillion won in operating profit this year. The special bonuses, equivalent to 10.5 percent of business performance earnings, will be paid out over at least 10 years, with 40 percent allocated to the chip division as a whole, including loss-making units, and 60 percent distributed to individual business units.
BY KIM JI-HYE [[email protected]]
