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
-
Majority caucus says BoG’s rising losses are cost of stabilisation, not collapse
14 minutes -
Analysis: How GOLDBOD’s “beautiful” 2025 financials created a GH¢9bn hole at the Bank of Ghana
22 minutes -
The numbers speak for themselves – Majority caucus fires back at Minority over BoG loss
27 minutes -
South Africa: The boys who gave the world a party, and went home early
32 minutes -
BoG gold sale row deepens as Majority caucus rejects Minority’s ‘policy insolvency’ charge
49 minutes -
US criticises Zambia for lack of engagement as $1 billion health deal stalls
1 hour -
Meta faces US lawmaker scrutiny over removal of lawyer ads for social media addiction cases
1 hour -
As summer opens, action movies have lost some box-office punch
1 hour -
Pope marks World Press Freedom Day, laments violations and honours slain reporters
2 hours -
Top US diplomat Rubio to meet with Pope Leo on Thursday, source says
2 hours -
Spirit Airlines shutting down after rescue talks collapse
2 hours -
BBC uncovers the Ugandan scammers abusing dogs to elicit donations from animal lovers
2 hours -
GameStop makes $55.5bn takeover offer for eBay
2 hours -
Trump says US to ‘guide’ stranded ships through Strait of Hormuz
2 hours -
Amsterdam bans public adverts for meat and fossil fuels
2 hours