Audio By Carbonatix
South Korean contract drug manufacturer Samsung Biologics estimated a strike by its labour union over pay that started late last month has cost the company about 150 billion won ($101.90 million).
The estimate reflected the financial impact of a "partial disruption to overall line production," the company said in an email sent to Reuters.
Samsung Biologics added that "the precise financial impact cannot be quantified at this time, as the company is continuously applying all applicable measures to minimise impact."
A total of 2,861 employees, about half of the workforce, have been striking since April 28, according to the union's website.
The management offered a 6.2% hike, according to the company. Both sides will resume talks on Monday, Yonhap News Agency reported.
Reuters could not immediately reach a representative of Samsung Biologics' union for comment.
The labour dispute could slow Samsung's efforts to win new orders and disrupt a review of whether to build a sixth plant, according to a note by Shinyoung Securities.
Clients, attracted by Samsung's on-time, low-cost delivery, could turn to rivals in Europe and the United States, the note said.
Latest Stories
-
Make loyalty to NPP a permanent culture, not an election-season tactic – Joseph Cudjoe
6 minutes -
NPP delegates want reform without destroying party’s reputation – Joseph Cudjoe
9 minutes -
Salomey Awiti Baffoe granted GH¢100,000 bail over alleged false news publication
13 minutes -
NPP is for all social classes, not just the middle class – Mike Oquaye
18 minutes -
Freezy Mɑcbones wins WBO Africɑ Light Heɑvyweight title in Lɑgos, Nigeria
21 minutes -
John Boadu is ‘an exceptionally gifted political figure’ – Prof Mike Oquaye
37 minutes -
NDC must study NPP congress closely for strategic lessons – Mustapha Gbande
44 minutes -
NDC has built strong structures to face any electoral challenge – Mustapha Gbande
54 minutes -
John Boadu can appeal across Ghana’s social groups – Prof Mike Oquaye
1 hour -
‘Electing Kojo Bamba is backward politics’ – Mustapha Gbande
1 hour -
Government must order payment of promoted teachers’ salaries – GNAT
1 hour -
Meet Sethina Edem Sunu, the healthcare professional eyeing the NDC UK & Ireland deputy organiser role
1 hour -
The myth of ‘sophisticated customer experience’ in the digital age
2 hours -
What happened to lands reserved for sanitary sites? -WasteCare CEO calls for audit
2 hours -
Manasseh Writes: The shift in the NPP
2 hours