Samsung Electronics' shares jump after tentative wage deal suspends strike


FILE PHOTO: Samsung Electronics’ labour union members chant slogans during a protest against company’s compensation levels ahead of a planned lengthy strike in front of Samsung Electronics semiconductor plant in Pyeongtaek, South Korea, April 23, 2026. REUTERS/Kim Hong-Ji/File Photo

SEOUL, May 21 (Reuters) - ⁠Samsung Electronics' shares rose as much as 6.5% ⁠in morning trade on Thursday after the tech ‌giant and its South Korean union reached a tentative pay deal, potentially averting a strike that had threatened to hit the economy ​and undermine global chip supply chains.

The ⁠union said the planned ⁠18-day strike by nearly 48,000 members would be suspended ⁠while ‌the tentative 11th-hour deal is put to a vote between May 22 and 27.

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