Shin Jae-yoon, chair of the Samsung Electronics board, expressed concern about the company's recent situation and urged resolution through labor-management dialogue.
In a message posted on the company's bulletin board on the 5th, Shin said, "Shareholders and customers, as well as many members of the public, are worried about the company's recent situation," adding, "As board chair, I feel a sense of responsibility and am sorry for causing concern."
Shin warned, "If the worst happens, both labor and management will lose their footing," adding, "Beyond a decline in business competitiveness, it will lead to a loss of customer trust and losses for shareholders and investors, dealing a serious blow to the national economy."
Shin also emphasized the nature of the semiconductor business. He explained, "As a national backbone industry, the semiconductor business hinges on timing and customer trust," adding, "If development and production are disrupted or delivery deadlines are missed, it can lead to damaged competitiveness and customer churn."
He also saw the potential for major economic repercussions if the strike drags on. Shin said, "If company value falls due to strike losses and customer churn, shareholders, investors, employees, and local communities could suffer losses," adding that "reduced exports and tax revenue and upward pressure on the exchange rate could also burden the national economy.
Shin said, "Now is the time for all employees to come together for sustainable growth amid unlimited competition," adding, "We must resolve the issue through sincere dialogue."
He added, "Let's work together so that the current conflict can become an opportunity to build a more constructive labor-management relationship going forward," and "I will join management in pooling wisdom and doing our utmost to resolve the issue."