On the 23rd, officials from the Korea Shareholders' Movement Headquarters read a resolution near the Pyeongtaek Campus of Samsung Electronics in Pyeongtaek, Gyeonggi Province, where a joint struggle rally of the Samsung Electronics Labor Union was held, opposing the union's demonstration. [Yonhap News]

With Samsung Electronics' union's general strike less than a week away, a shareholders' group has announced its intention to take legal action regarding the wage negotiations and labor dispute activities between Samsung Electronics' management and labor.

According to industry sources on the 15th, the "Korea Shareholders' Movement Headquarters," a small shareholders' group, announced its legal response plan in a press release distributed the previous day, targeting Samsung Electronics' board of directors, management, and the joint struggle headquarters including the National Samsung Electronics Labor Union (hereinafter referred to as Jeoksamno).

The Shareholders' Movement Headquarters argued that the union's demand to codify the "uniform payment of a 15% performance bonus based on operating profit" directly violates the principle of capital integrity, which is a mandatory provision under the Commercial Act.

It further pointed out, "Operating profit is a metric before deducting corporate taxes and legal reserves," and stated, "Allocating it in advance as labor costs and distributing it is a disguised illegal dividend that infringes upon shareholders' property rights."

It also criticized the management. If the management accepts the union's demands and forces board resolutions, they plan to file a lawsuit seeking confirmation of the invalidity of the resolutions and exercise the right to seek a preliminary injunction against illegal acts, citing breach of duty of loyalty and embezzlement by directors.

They also warned that the union's strike would be designated as an "illegal strike," and direct responsibility would be pursued.

The Shareholders' Movement Headquarters stated, "Management performance bonuses are not a direct compensation (wage) for labor, but a distribution of business profits (capital)," and added, "A strike to force this lacks legitimacy and is an illegal strike."

It further added, "The resulting disruption in semiconductor production and damage to corporate value will be considered direct and intentional infringement of shareholders' property rights, and civil damages of a considerable scale will be claimed against all union members."

Shareholders plan to recruit Samsung Electronics shareholders and form a nationwide lawsuit group through the shareholder action platform "ACT" in conjunction with the general strike on the 21st.