Samsung Electronics (SSNLF, Financial) announced it has reached a preliminary agreement with a major South Korean union for a 5.1% pay increase. The agreement includes additional benefits such as a week of extra holidays and points redeemable for Samsung products and other perks.
Union members will vote on the agreement, which comes after a strike in July involving 36,500 union members, approximately 30% of Samsung's workforce in South Korea. The strike did not disrupt production, according to the company. The preliminary deal was also shared on the union's YouTube channel.
