• Samsung Electronics’ labour union in South Korea said it would walk out of pay negotiations if no mediation proposal was offered within two hours.
  • The union demands 15% of operating profit for a performance bonus pool, scrapping the bonus cap, and keeping changes beyond this year.
  • Samsung sticks to its proposal of assigning 10% of operating profit to a performance bonus pool.
  • Workers are angered by a massive gap in bonus pay with rival SK Hynix, which abolished its pay cap.
  • Samsung last week became only the second Asian company after TSMC to have a market capitalisation of over $1 trillion.

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