South Korea's Samsung reaches agreement with workers, strike averted

Today’s headlines: Pakistani General Munir in Tehran for mediation with the US. Malaysia and Singapore record record exports despite the crisis in the Middle East, whilst in Japan oil imports hit an all-time low and tourist numbers fall. Criticism of Indian Prime Minister Modi for failing to answer journalists’ questions during his tour of Europe.

SOUTH KOREA

In the end, Samsung Electronics and the union representing the company’s workers have reached an agreement providing for a special performance-related bonus in the semiconductor sector amounting to 10.5% of profits derived from the company’s performance, with no upper limit. This has averted a strike that would have caused losses of up to .7 billion, according to estimates.

IRAN-PAKISTAN-UNITED STATES

The head of the Pakistani army, Asim Munir, is expected in Tehran today as part of Pakistan’s ongoing mediation in the talks between Tehran and Washington regarding the war with Iran. This was reported by the Iranian news agency ISNA. The Pakistani Home Minister also arrived in Tehran yesterday for the second time in less than a week, whilst Islamabad continues its efforts to reach an agreement between the United States and Iran, more than a month after the start of a fragile ceasefire between the two sides.

JAPAN

In Japan, in April, crude oil imports from the Middle East (a region on which it relies for over 90% of its oil supplies) plummeted by over 67% compared to March, reaching the lowest level recorded since 1979. The decline was partly offset by purchases from the United States. The number of tourists also fell by 5.5% last month compared to 2025, standing at 3.69 million visitors, the first decline since the start of the year.

MALAYSIA – SINGAPORE

Despite the crisis in the Middle East, exports from South-East Asia, driven by the development of artificial intelligence, have reached new all-time highs. According to data released yesterday by Malaysia’s Ministry of Investment, Trade and Industry, exports of electrical and electronic goods in April rose by 46.4% year-on-year, reaching a record 88.16 billion ringgit, equivalent to 22 billion dollars. In Singapore, exports rose by 24.5%, Enterprise Singapore announced on Monday, marking the fastest rate of growth since February 2012.

INDONESIA

The Indonesian army stated today that separatists from the West Papua National Liberation Army (TPNPB) in the country’s easternmost province, the Papua Highlands, killed eight civilians working in local gold mines in the Yahukimo region.

INDIA

During his recent trip to Europe, Prime Minister Narendra Modi avoided answering a question from a Norwegian journalist by simply walking away without replying, sparking widespread criticism even in India after a video of the incident circulated on social media. Helle Lyng Svendsen of the Norwegian newspaper Dagsavisen had asked Modi why he was not answering questions from the press, and later that same day, she questioned a Foreign Ministry official about the human rights situation in India. During his 12 years in office, Modi has not held a single press conference in India.

RUSSIA – UKRAINE

Russia systematically uses stolen Ukrainian wheat as a tool for expansion in the Global South, and the dangers of this practice and the strategies Ukraine is adopting to counter it are analysed by Rbk-Ukraine journalist Roman Kot, who discusses the destruction of competition in the markets, the economy of plunder and underground logistics. To trade the wheat, there is a mass substitution of documents of origin and the mixing of batches.

TURKMENISTAN

The International Labour Organisation, in collaboration with the European Union and national partners, has launched a project to “Promote decent work and prevent child and forced labour in Turkmenistan”, to combat forced child labour, particularly in the cotton sector in Turkmenistan, with a budget of two million euros, as announced by Khalbibi Takhžhanova, Deputy Minister of Labour in Ashgabat.

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