The presidential office on Thursday pledged to provide active support for companies and labor unions to settle negotiations in a reasonable manner, emphasizing the impact that labor-management disputes can have on the economy. Presidential spokesperson Kang Yu-jung made the remarks at a press briefing a day after Samsung Electronics and its largest labor union reached a last-minute wage agreement over performance-based bonuses, averting a planned 18-day strike that had been scheduled to begin Thursday. The agreement also spared the Korean economy what could have been losses of up to 100 trillion won ($66.4 billion), according to many expert estimates. Still, the monthslong dispute has raised concerns that labor unions at other companies may follow suit by taking collective action in demand of greater compensation. “The government is planning to provide active assistance so that labor-management negotiations can be mediated in a reasonable direction,” Kang said. “The impact such disputes can have on the national economy is significant.” She said that, in principle, such negotiations are ma
Presidential office pledges active support for reasonable labor-management settlement
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