Surprising news out of South Korea reported just today – Samsung Electronics CEO and Vice Chairman Han Jong-hee died on Tuesday morning of cardiac arrest, the company confirmed. He was just 63 years old.
Samsung CEO Suddenly Dies of Heart Attack
Samsung Electronics
Samsung Electronics and Union Finally Reach a Preliminary Agreement
Samsung Electronics and the largest union at the company have finally reached a preliminary agreement on a new contract that provides for a wage increase as well as other benefit enhancements, the company announced today in Korea. The deal should put an end to any further labor actions. However, it still needs to be ratified by the union membership.
Learn more about this first labor action at Samsung
[Read more…] about Samsung Electronics and Union Finally Reach a Preliminary AgreementSamsung Employees Return to Work as Union Ends Strike with No Concessions
Earlier this month the National Samsung Employees Union (NSEU) opted to end its strike, even though it won no concessions from the company. The strike was the first ever union-directed work-stoppage action in Samsung’s history and threatened to impact critical production schedules at one of the world’s largest consumer electronics companies.
See why Samsung union employees went back to work with no deal
[Read more…] about Samsung Employees Return to Work as Union Ends Strike with No ConcessionsWith Week 3 of Strike About to Begin, Samsung Management Says, Let’s Talk
As I’ve been reporting, Samsung’s largest union, the 30,000+ member strong National Samsung Electronics Union (NSEU), has launched a strike against one of the largest employers in all of South Korea. This is not a common occurrence anywhere in Asia, and it is the first major strike Samsung has ever experienced.
Now, after two weeks of continuous work stoppage, Samsung management finally indicated to the union that it was interested in restarting the negotiations – a big win for union leaders.
See more on the first-ever union-directed work stoppage at Samsung
[Read more…] about With Week 3 of Strike About to Begin, Samsung Management Says, Let’s TalkSamsung Strike Suddenly Gets Serious
The relationship between Samsung and its largest union is rapidly deteriorating and suddenly, a strike called by the union initially more for show than impact, has turned very serious. That means that as the union progresses its tactics, the impact on production is likely to quickly reach the point that it will be felt by the company and all of its customers.
See more on the escalating strike at Samsung
[Read more…] about Samsung Strike Suddenly Gets SeriousIn a Rare Move in Asia, Workers’ Union Calls for a Strike at Samsung
The National Samsung Electronics Union (NSEU) announced on Monday that it will launch a general strike against Samsung that will continue until the company meets its demands for better pay and more time off, according to a report by Reuters. The union went on to warn “of [a] more damaging action” against the company than a one-day walkout last month.
See more about a nasty labor situation building at Samsung
[Read more…] about In a Rare Move in Asia, Workers’ Union Calls for a Strike at SamsungGlobal Manufacturing Inventory Levels Hit a Record $1.8 Trillion
Manufacturers Struggle with Multiple Global Challenges
A broad group of global manufacturers in diverse markets from Ford to Samsung have seen their inventory levels swell as consumer demand weakens in the wake of surging inflation and destabilizing economic conditions, according to a new analysis by the Nikkei. According to their research, global manufacturing inventories have swelled to $1.8 trillion, a record total that is the highest measured manufacturing inventory level in the last ten years.
Learn more about rising manufacturing inventory levels
[Read more…] about Global Manufacturing Inventory Levels Hit a Record $1.8 TrillionSamsung Says ‘Recent Rise’ of COVID, is Cause for Withdrawal from CEDIA Expo
BREAKING NEWS
The announcements are coming faster than I can get them written up, as I learned late Friday that Samsung has notified their dealers that they too have pulled out of the CEDIA Expo 2021. Pressure is building on other exhibitors to take a stand. A tipping point may be approaching…
See more on Samsung exiting CEDIA Expo…
[Read more…] about Samsung Says ‘Recent Rise’ of COVID, is Cause for Withdrawal from CEDIA ExpoJudge Sends Samsung CEO Back to Prison for 2½ Years
Who Will Run the Company with Lee Incarcerated?
On Monday, Samsung Electronics Vice Chairman Lee Jae-yong – also known as JY Lee, J. Y. Lee or Jay Y. Lee – was sentenced to 2½ years in prison for his role in a bribery and embezzlement scheme to influence the President of South Korea in order to increase his share and power in the company. This development is big news in Korea. Samsung Electronics, part of the Samsung family of companies that is the largest conglomerate in South Korea, by itself represents almost 20% of the entire value of all exports from Korea.
See this sensational Samsung…ah…stuff!
[Read more…] about Judge Sends Samsung CEO Back to Prison for 2½ YearsSamsung Makes a Strategic Investment into an IoT Security Company
Samsung Electronics has made another major investment in the Internet of Things (IoT) space, becoming an early stage Series A investor in Bayshore Networks. The company made the investment via its Samsung NEXT Venture fund, an investment fund created by the company to find and take positions in companies that are driving businesses that will yield future profits for the company.
