Samsung Electronics erases $66 billion intraday loss after Seoul intervenes in labor dispute. The company's shares plummeted 6.09% after wage talks collapsed, with over 41,000 workers threatening an 18-day strike beginning May 21. The union demands 15% of operating profit allocated to performance bonuses and removal of bonus caps, while management offered only 10%. South Korea's Finance Minister and Prime Minister publicly urged both sides to reach agreement, warning that strikes cannot happen given Samsung's critical importance to the global economy. The government intervention reversed the selloff as shares turned positive. An 18-day walkout could cost Samsung approximately $20 billion in lost production. This labor tension contrasts sharply with Samsung's strong financial performance, having reported an 750% surge in first-quarter operating profits driven by chip business growth.
