Economic Times•May 18
Why Samsung shares just surged 7% to save Kospi from a tragic market meltdown
Shares of Samsung Electronics rose as much as 7% to their day’s high of Korean Won 2,88,500 after the company entered crucial wage negotiations with its largest labour union in an effort to avoid a strike that could disrupt operations at the world’s biggest memory chipmaker. 7% in Seoul, reversing almost all losses of the previous session. Samsung has proposed allocating 10% of operating profit to bonuses along with a one-time special compensation package that it said exceeds industry standards.
