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Samsung Electronics Says it Reaches Preliminary Wage Deal with Union

FILE PHOTO: Samsung Electronics’ booth is seen during Korea Electronics Show 2024 in Seoul, South Korea, October 23, 2024. REUTERS/Kim Hong-Ji/File Photo
FILE PHOTO: Samsung Electronics’ booth is seen during Korea Electronics Show 2024 in Seoul, South Korea, October 23, 2024. REUTERS/Kim Hong-Ji/File Photo
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Samsung Electronics Says it Reaches Preliminary Wage Deal with Union

FILE PHOTO: Samsung Electronics’ booth is seen during Korea Electronics Show 2024 in Seoul, South Korea, October 23, 2024. REUTERS/Kim Hong-Ji/File Photo
FILE PHOTO: Samsung Electronics’ booth is seen during Korea Electronics Show 2024 in Seoul, South Korea, October 23, 2024. REUTERS/Kim Hong-Ji/File Photo

Samsung Electronics has reached a preliminary agreement with its main workers' union in South Korea for a wage increase of 5.1%, it said on Thursday.
Union members will vote on the deal, which includes more holidays and bonus points that can be used to purchase Samsung Electronics products and other perks, for one week starting on Thursday, the company said.
The National Samsung Electronics Union also announced the preliminary deal on its YouTube channel, Reuters reported.
The union, whose 36,500 members make up about 30% of Samsung Electronics' South Korean workforce, went on strike in July although the company said it did not lead to any disruption in production.

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Ma’aden CEO to Asharq Al-Awsat: 820,000 Meters of Exploration Wells Drilled in Saudi Arabia

Ma’aden CEO Robert Wilt. (Future Investment Initiative)
Ma’aden CEO Robert Wilt. (Future Investment Initiative)
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Ma’aden CEO to Asharq Al-Awsat: 820,000 Meters of Exploration Wells Drilled in Saudi Arabia

Ma’aden CEO Robert Wilt. (Future Investment Initiative)
Ma’aden CEO Robert Wilt. (Future Investment Initiative)

The Saudi Arabian Mining Company (Ma’aden) has undertaken the largest exploration program in a single region worldwide as part of the Kingdom’s efforts to achieve the goals of Vision 2030, diversify its economic base, and position mining as the third pillar of the national industry.

The company has drilled over 820,000 meters of exploration wells in the past two years, surpassing similar efforts in other countries, Ma’aden CEO Robert Wilt told Asharq Al-Awsat.

Wilt revealed that this program has already yielded a potential gold discovery spanning 100 kilometers south of the Mansourah and Massarah mines, located 460 kilometers east of Jeddah.

The CEO emphasized Ma’aden’s role in leading the development of the mining sector as the third pillar of Saudi Arabia’s economy, harnessing mineral resources estimated at $2.5 trillion.

He highlighted the company’s ambitions to unlock the Kingdom’s potential in strategic minerals, such as gold and copper, which are vital for manufacturing industries and the global energy transition.

To sustain the company’s strategies, Wilt stressed the importance of supporting and developing the next generation of Saudi talent. Ma’aden is committed to creating an attractive industry for young professionals and investing in skills and technology to enable its workforce to build a new era for mining in the Kingdom.

Ma’aden currently operates more than 17 mines and exploration sites across Saudi Arabia, transforming mineral wealth into added value for the national economy. The company exports its products to over 30 countries worldwide.

Additionally, Ma’aden has invested in the necessary infrastructure for mining and processing operations. This includes constructing modern mines, advanced processing plants, and world-class export ports.

The company leverages cutting-edge technology to boost productivity, improve product quality, and reduce costs. It also utilizes advanced systems for analyzing geological data to identify promising mineral sites, integrating this technology throughout its operations from exploration to marketing.