Samsung Electronics’ shares jump after tentative wage deal suspends strike

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Samsung Electronics’ shares rose as much as 6.5% in morning trade on Thursday after ‌the ⁠tech ⁠giant and its South Korean union reached a tentative pay deal, potentially averting a strike that had ⁠threatened to ‌hit the economy and undermine ⁠global chip supply chains.

The union said the planned 18-day strike by nearly 48,000 members would be suspended while the ‌tentative agreement is put to a vote between May ⁠22 and 27.

The benchmark KOSPI was up 4.6% as of 0005 GMT.

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https://economictimes.indiatimes.com/markets/us-stocks/news/samsung-electronics-shares-jump-after-tentative-wage-deal-suspends-strike/articleshow/131238563.cms