Samsung shares soar as strike averted, but bonuses of $416,000 for some stoke concern

PYEONGTAEK, South Korea: Samsung Electronics’ shares surged on Thursday after it clinched an 11th-hour deal with its South Korean union to avert a strike, although the terms which included bonuses of around $416,000 for some workers gave rise to some concern.

A planned 18-day strike by some 48,000 union members has now been suspended, while the agreement, which was mediated by the government, is put ‌to a ⁠vote between ⁠May 22 and May 27. The union’s leader has said he expects it to be ratified.