▲ This image, provided by Samsung Electronics Co., shows production lines at the company's factory in Pyeongtaek, south of Seoul. (PHOTO NOT FOT SALE) (Yonhap)

presidential office-labor talks

Presidential office pledges active support for reasonable labor-management settlement

SEOUL, May 21 (Yonhap) -- The presidential office on Thursday pledged to provide active support for companies and labor unions to settle negotiations in a reasonable manner, emphasizing the impact that labor-management disputes can have on the economy.

Presidential spokesperson Kang Yu-jung made the remarks at a press briefing a day after Samsung Electronics Co. and its largest labor union reached a last-minute wage agreement over performance-based bonuses, averting a planned 18-day strike that had been scheduled to begin Thursday.

The agreement also spared the South Korean economy what could have been losses of up to 100 trillion won (US$66.4 billion), according to many expert estimates.

Still, the monthslong dispute has raised concerns that labor unions at other companies may follow suit by taking collective action in demand of greater compensation.

"The government is planning to provide active assistance so that labor-management negotiations can be mediated in a reasonable direction," Kang said. "The impact such disputes can have on the national economy is significant."

She said that, in principle, such negotiations are matters that companies and labor unions must resolve on their own, but the latest case involving Samsung demonstrated how such disputes can develop into a broader social debate and tension beyond a mere labor-management issue.

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