Seoul: The presidential office on Wednesday expressed deep regret over the collapse of wage talks between labor and management at Samsung Electronics Co., urging both sides to continue efforts to reach an agreement. The second round of government-led mediation talks fell through earlier in the day, and the company's largest labor union pledged to proceed with a planned strike starting Thursday that would involve more than 40,000 workers.

According to Yonhap News Agency, "We deeply regret the breakdown of the post-mediation process at the National Labor Relations Commission," Cheong Wa Dae said in a release. "Even before the final deadline, we urge both labor and management to make every possible effort to reach an agreement, taking into account concerns over the potential impact on the Korean economy," it added.