Samsung's Stock Falls - Union Still Plans StrikeSamsung's share price has declined amid ongoing labor disputes. The company's employees union announced plans to proceed with strike action despite the current market conditions.

Samsung Electronics' shares fell 7.6% on Friday after the company's largest trade union announced it would proceed with a strike planned for the end of May.

The National Samsung Electronics Union stated that it is ready to resume negotiations after June 7, but will not back down from the 18-day strike beginning May 21.

The union is demanding the elimination of bonus caps and the implementation of a profit-based compensation system. Employees are also expressing dissatisfaction with lower compensation compared to rival SK hynix, after SK hynix reached a more favorable bonus agreement with its employees.

Negotiations between Samsung and the union, mediated by the government, fell apart this week as the parties failed to reach an agreement on compensation and bonus issues.

South Korea's government, including the Prime Minister and Industry Minister, has called on both sides to continue negotiations. They assess that a large-scale strike could negatively impact the country's exports, financial markets, and economic growth.

Against the backdrop of Samsung's share decline, the company significantly underperformed the overall KOSPI index.