Samsung 48,000-worker 18-day strike averted with tentative deal, KOSPI +8.42% record surge

Samsung's 48,000-strong union averted the planned 18-day general strike scheduled for May 22 after reaching a tentative wage agreement on May 21. Following the announcement, KOSPI surged 606.64 points (+8.42%) to close at 7,815.59, with Samsung Electronics +8.51% and SK Hynix +11%, reversing a memory panic in one breath. The member ratification vote, running from May 22 at 2 p.m. to May 27 at 10 a.m., remains a variable.