Sejong: The labor union and management at Samsung Electronics failed to narrow their differences over performance-based bonuses on the second and final day of government-led mediation talks that ended early Wednesday, raising concerns that the union may go ahead with a general strike later this month.

According to Yonhap News Agency, the talks, seen as a last-ditch effort to avert the general strike, began at 10 a.m. Tuesday at the National Labor Relations Commission office in the administrative city of Sejong. However, both sides failed to reach a consensus despite nearly 17 hours of negotiations.

Choi Seung-ho, head of Samsung Electronics' largest labor union, stated after the meeting that due to the lack of progress, they requested mediation but found that the proposal only worsened. As a result, the union declared that the mediation talks had fallen through.

Samsung's labor union is demanding performance-based bonuses equivalent to 15 percent of operating profit, along with the removal of the payout cap and the formal institutionalization of the bonus system. The union had earlier announced plans to stage a general strike starting May 21 if its demands are not met.

Choi noted that around 41,000 unionized workers have expressed their intention to participate in the general strike, with the number potentially rising to over 50,000. He emphasized that the union intends to proceed in a legitimate manner and does not plan to hold an illegal strike.

The labor dispute at Samsung Electronics, the world's largest memory chip maker and South Korea's most valuable company, has raised concerns about the potential disruption to production. Such a walkout could significantly impact the semiconductor supply chain and adversely affect the broader economy.