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Samsung Electronics Co Ltd (KS:005930) shares climbed sharply on Thursday after the company reached a last-minute agreement with a major South Korean labor union, avoiding a potentially disruptive strike. Investor optimism over the deal, combined with strong demand for artificial intelligence chips, pushed Samsung stock up more than 6% to 294,000 won, bringing the shares close to record highs.
The rally also helped drive the broader KOSPI index nearly 6% higher, while rival chipmaker SK Hynix Inc (KS:000660) gained almost 5% during Thursday trading. The agreement marks a significant breakthrough after weeks of tense negotiations between Samsung and its largest union, which represents nearly 48,000 workers.
The union announced late Wednesday that it would suspend the planned strike after reaching a tentative wage agreement with the tech giant. Workers are expected to vote on the proposed deal between May 22 and May 27, according to local media reports. The labor dispute had intensified in recent weeks, with talks repeatedly collapsing despite mediation efforts from the South Korean government.
Union members had been demanding higher compensation and a larger share of profits generated by Samsung’s booming semiconductor division. The company has benefited significantly from the global artificial intelligence boom, which has fueled soaring demand for advanced memory chips used in AI systems and data centers.
Employees also expressed frustration over widening pay differences compared to SK Hynix, which has similarly enjoyed strong earnings growth due to rising AI chip demand. Market sentiment toward the semiconductor sector improved further after NVIDIA Corporation (NASDAQ:NVDA) reported strong earnings results, signaling continued robust AI-related demand in upcoming quarters.
The latest developments highlight growing investor confidence in Samsung’s ability to maintain stable operations while capitalizing on the expanding global AI semiconductor market in 2026.
