Samsung's 48,000-Worker Strike Begins as $66 Billion Economic Damage Warning Looms

Samsung Electronics' largest union began an 18-day strike starting Thursday after management rejected a government-mediated bonus proposal. The union agreed to compulsory mediation from South Korea's National Labour Relations Commission on May 19; management refused. Prime Minister Kim Min-seok warned the action could cause 100 trillion won ($66 billion) in economic damage. The government retains authority to invoke emergency arbitration, suspending the strike for 30 days and triggering renewed mediation.