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Yeo Myung-koo (left), head of the People Team at Samsung Electronics' Device Solutions division, and Choi Seung-ho, chief of the Samsung Electronics chapter of the Samsung Group Inter-Company Labor Union, shake hands after signing a tentative wage and collective bargaining agreement at the Gyeonggi District Employment and Labor Office in Suwon, Gyeonggi Province, on May 20. / Photo courtesy of Yonhap News Agency

The Federation of Korean Industries (FKI) welcomed the tentative agreement reached between Samsung Electronics' management and its labor union, stating that it is a relief the dispute was resolved through dialogue and negotiation.

Lee Sang-ho, head of the Economic Research Bureau at the FKI, released a commentary on May 21, noting that considering the critical weight the semiconductor industry holds in the national economy, the agreement carries significant meaning as it minimizes disruption at industrial sites and safeguards the backbone of the economy.

The management and labor union of Samsung Electronics signed the tentative agreement for the 2026 wage negotiations late on the night of May 20 at the Gyeonggi District Employment and Labor Office in Suwon, Gyeonggi Province.

While concerns had been mounting over potential national economic damage—including projected losses of up to 100 trillion won and a severe disruption to the broader semiconductor ecosystem—active government mediation prompted both sides to make mutual concessions and find a resolution through dialogue.

If the tentative agreement passes the upcoming union member ratification vote, it will officially conclude the five-month-old labor dispute that began last December.

"We hope that the remaining procedures, including the union member vote, will be smoothly finalized so that this serves as a turning point for corporate growth and a greater leap forward for our economy," Lee said.