SEOUL, May 21 (Reuters) – Samsung Electronics’ shares rose as much as 6.5% in morning trade on Thursday after the tech giant and its South Korean union reached a tentative pay deal, potentially averting a strike that had threatened to hit the economy and undermine global chip supply chains.
The union said the planned 18-day strike by nearly 48,000 members would be suspended while the tentative agreement is put to a vote between May 22 and 27.
The benchmark KOSPI was up 4.6% as of 0005 GMT.
(Reporting by Heekyong Yang, Heejin Kim and Cynthia Kim;Editing by Ed Davies)
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