South Korean chipmaker Samsung Electronics is facing one of the most serious workers’ strikes in its history, with a protest which could affect the overall economy and the group’s global supply of semiconductors.The company’s workers’ union has announced that more than 48,000 workers will stop work on Thursday to protest for 18 days over their bonus payments.Recommended Stories list of 3 itemsend of listThe electronics giant is a major engine in South Korea’s economy, producing revenues equal to about 12.5 percent of the country’s gross domestic product (GDP).What has led to the strike and why is it a cause for concern?Here’s what we know:What is the dispute between Samsung and its union about?Samsung Electronics’ Union has demanded that the company abolish a cap on bonuses that currently stands at 50 percent of annual salary and instead allocate 15 percent of the company’s annual operating profit to bonuses.According to local media reports, the union has highlighted other, smaller companies such as SK Hynix, a Samsung rival, which pays its workers higher bonuses.Samsung Electronics has defended its pay scheme.In a media statement, it said the union had made “unacceptable demands” which included the size of bonuses for loss-making units.The two sides held talks mediated by the government on Wednesday but were unable to reach a consensus.On Wednesday, union leader Choi Seung-ho said the union had accepted a final proposal presented by a government mediator, but the 18-day strike would go ahead as …
