South Korea's Samsung Electronics Union: If we go on strike according to plan, the company will lose $20.3 billion this year.

Workers from the labor union of South Korea's Samsung Electronics warned on Friday that if the tech giant proceeds with planned strikes, it could lose up to 300 trillion Korean won in profits just for this year. This warning comes as wage negotiations have reached a deadlock. The union had previously demanded a significant increase in performance bonuses, and it is widely believed that if this demand is approved, Samsung Electronics may need to pay up to 450 trillion Korean won in total bonuses this year. "If we continue the strike for 18 days, the company is estimated to suffer losses of at least 200 trillion to 300 trillion Korean won," said Choi Seung-ho, the head of the Samsung Electronics branch of the Samsung Group's joint labor union, during a press conference. The union has announced its plans to hold a total strike lasting 18 days from May 21 to June 7.