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
-
Confidence high as Vice President visits Black Stars ahead of Panama showdown
3 minutes -
BECE 2026: Five important steps JHS graduates should take before starting SHS
7 minutes -
2026 World Cup: Ghana fails in bid to have Partey’s Canada visa denial overturned
11 minutes -
University of Nottingham cyberattack triggers CSA warning to Ghanaian universities
15 minutes -
Ghana-South Africa Business Chamber condemns xenophobic attacks on Ghanaians
36 minutes -
“US Justice Department hasn’t gotten back to Ghana that it has served Ofori-Atta” – OSP
41 minutes -
Deputy Energy Minister reaffirms Ghana’s commitment to gas-led development at West Africa Gas Summit
56 minutes -
Protect Ghanaians in South Africa through diplomacy – Bosome Freho MP to gov’t
1 hour -
About 49,000 Ghanaians still live in South Africa – Bosome Freho MP discloses
1 hour -
Bosome Freho MP urges South Africa to take decisive action against Xenophobic attacks
1 hour -
Mfantsipim SHS final-year student commits suicide
1 hour -
Complete Farmer launches CF Grower and CF Buyer to deepen digital agriculture in Ghana
1 hour -
Nukunu Sports Academy to support young football enthusiast until he turns 14
2 hours -
With green card, Ofori-Atta has far more protection than he had previously – Kpebu
2 hours -
Ghana Gas pays courtesy call on NPA CEO
2 hours