Samsung's critical union negotiations break down eight days before planned 18-day chip factory strike that's projected to cost $700 million per day — Korean PM calls emergency meeting as strike looms

Samsung's critical union negotiations have broken down just eight days before an 18-day chip factory strike, which could cost the company $700 million per day. The breakdown has led to an emergency meeting called by the Korean Prime Minister as the strike looms. The union and Samsung failed to reach an agreement on bonus payments, with the union demanding changes to bonus calculations and profit allocations. The potential strike could result in significant financial losses for Samsung, impacting its semiconductor division's annual sales. The union, representing over 90,000 members, has warned of the economic impact of the strike on South Korea's exports, particularly in the semiconductor industry.