Samsung faces strike from nearly 48,000 union workers

Key points

• Nearly 48,000 Samsung workers in South Korea, which make up 38 percent of the company's workforce in the country, are planning to walk out on May 21 for an 18-day strike.
• The company and its largest labor union had been in negotiations, and union leader Choi Seung-ho said his organization had accepted the final proposal presented by a government mediator.
• However, the strike is still pushing through after the parties failed to reach an agreement on one important issue: Bonuses.
• The union is asking Samsung to remove the cap on workers' bonuses, which is equivalent to 50 percent of their annual salaries.
• Further, it's pushing for Samsung to allocate 15 percent of its annual operating profit to worker bonuses.