00:00South Korea's government has vowed to try everything to avoid a major labor strike at Samsung Electronics, the country's biggest
00:08employer.
00:08The looming industrial action at the tech giant could involve tens of thousands of workers.
00:13It has sparked economic worries, rattled foreign investors, and threatened global supply chains.
00:19Prime Minister Kim Min-suk said on Sunday,
00:21just one day of suspension at Samsung's semiconductor factory could incur direct losses of up to some $667 million.
00:30After an emergency meeting with ministers, Kim told a news briefing that his administration would take action to protect the
00:37nation's economy.
00:40The government will have no choice but to pursue all possible options, including emergency arbitration, he said.
00:48Pay talks broke down this week as Samsung and its union struggled to find a compromise over bonus payouts.
00:54The world's largest memory chip maker has reaped huge profits from a global memory shortage.
00:59It has offered generous bonuses to staff, but a proposal to give its memory chip employees at least six times
01:05more than other workers
01:07in its logic chip design and manufacturing businesses has caused upset.
01:11Their union is threatening to stage the largest strike in the conglomerate's history from May 21st for 18 days.
01:19Chairman JY Lee has apologized to customers around the world over the issue.
01:25An emergency arbitration order can be invoked by the Labour minister if a dispute is deemed likely to harm the
01:31economy or daily life.
01:32It would ban industrial action for 30 days while a government body conducts mediation and arbitration.
01:38The union says it will not be pressured into a pay deal that is not favorable to its members.
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