Seoul: Samsung Electronics chairman Lee Jae-yong issued an apology to customers and the public today regarding a wage dispute between the company and South Korean labor unions that has raised the possibility of a large-scale strike that could severely impact the economy. In his first public statement, Mr. Lee said he sincerely apologized to customers worldwide for causing concern due to internal company issues, and publicly expressed his deepest regret.
According to Thai News Agency, following the breakdown of wage negotiations this week, the Labor Minister met with Samsung Electronics executives on Saturday, urging the company to take a proactive role in resolving the dispute through negotiation. Meanwhile, senior South Korean government officials, including the Prime Minister and the Finance Minister, expressed concerns that a strike at Samsung should be avoided at all costs, warning of serious risks to economic growth, exports, and financial markets.
The government-mediated but unsuccessful negotiations have heightened concerns about a potential strike at Samsung, the world's largest memory chip manufacturer whose major customers include Nvidia, AMD, and Google. The union announced that it and the company are scheduled to resume wage negotiations this coming Monday, with a government mediator present.