Biz associations express concerns over Samsung unions’ strike threat

Korea’s six major business associations on Monday expressed their “grave concerns” over a planned general strike by Samsung Electronics’ labor unions, urging the unions to reconsider the move and the government to invoke a compulsory arbitration measure. In a joint statement, the associations said the strike could “shake the foundation of the country’s key industries,” and that “the unions should withdraw their strike plan and seek to resolve the issue through dialogue.” Joining the statement were the Korea Enterprises Federation, the Korea Chamber of Commerce & Industry, the Federation of Korean Industries, the Korea International Trade Association, the Korea Federation of Small and Medium Business and the Federation of Middle Market Enterprises of Korea. The associations said the strike comes at a critical time and could lead to a “national loss of opportunity,” warning it may disrupt production, undermine trust in the global supply chain, drive away clients and damage Korea’s credit standing. “Given that semiconductor fabrication processes require around-the-