Prime Minister Kim Urges Samsung to Avert Strike, Says All Options Including Emergency Mediation Are on Table
Summary
- Prime Minister Kim Min-seok urged Samsung Electronics management and labor to resolve the crisis through dialogue and compromise rather than a strike.
- Kim said disruptions to Samsung Electronics' semiconductor production would leave deep scars on the broader economy, including lower exports, financial-market instability and weaker domestic investment.
- Kim said the government would consider all available measures, including emergency mediation, if a strike raised concerns about severe damage to the national economy.
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Prime Minister Kim Min-seok urged Samsung Electronics management and labor on Saturday to resolve their dispute through dialogue and compromise rather than a strike. He also said the government would consider all available measures, including emergency mediation, if a walkout threatened to harm the national economy.
Speaking in an emergency public address at the Government Complex Seoul on May 17, Kim called on both sides to work through the crisis through talks instead of what he described as the extreme choice of a strike. He said negotiations scheduled for May 18 were effectively the last chance to prevent a walkout.
Kim said the government had convened a second emergency meeting of relevant ministers to review in detail the potential ripple effects of a Samsung Electronics strike on South Korea's economy and industry and to discuss all possible responses. The government views the situation as extremely serious, he said.
Any disruption to Samsung Electronics' semiconductor production would extend beyond losses at a single company, he said. It would leave deep scars on the broader economy through lower exports, financial-market instability, worsening business conditions and employment at numerous partner companies, and weaker domestic investment.
Kim said the biggest concern was that South Korea could cede the strategic advantage it had painstakingly secured in the global AI semiconductor race to rival countries. Once lost, markets and competitiveness may be difficult to recover, he said.
He urged the union to keep seeking common ground through talks and agreement rather than insisting on a strike. He also called on management to engage responsibly, listen to the union's position and keep working toward a mutually beneficial solution.
Kim said the government could not rule out pursuing every available option, including emergency mediation, to protect the national economy if a strike created a risk of massive economic damage.
Lee Jung-woo, Hankyung.com reporter, krse9059@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
