Market Chatter: Samsung Electronics' Largest Labor Union Says Yes to Compensation Deal; Shares Jump 7%
A majority of Samsung Electronics' (KRX:005930) largest labor union approved a compensation agreement that will provide chip workers with average bonuses of about 513 million won, or $340,000 each, Bloomberg News reported Wednesday.Around 74% of union members backed the deal after weeks of negotiations, the report said.Shares of Samsung Electronics jumped 7% in recent trade.The move follows a similar bonus payout agreement reached in 2025 by competitor SK Hynix (KRX:000660), though Samsung's actual bonus payments will largely depend on earnings and chip demand, the report said.The chipmaker employs about 78,000 people in its semiconductor division. Under the new deal, workers are set to receive average bonuses of roughly 513 million won, which is sharply higher than the average annual pay of 158 million won reported last year, it said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)