Samsung and labor union to meet in 'last chance' to avert strike

Samsung Electronics and its largest labor union are resuming negotiations to avert a strike, with Prime Minister Kim Min-Seok warning of severe economic consequences. The union demands higher performance-based compensation, while Samsung proposes a lower allocation of operating profit for bonuses. The talks come ahead of a May 21 deadline, with potential costs of 1 trillion won per day if a strike occurs. The government may use emergency powers to prevent the strike if no agreement is reached.