Samsung shares drop $66B after failed wage talks spark strike fears

Samsung Electronics lost up to $66 billion in market value after failing to reach a wage agreement with its union, which threatens an 18-day strike starting May 21. Over 41,000 workers demand higher performance bonuses, seeking 15% of operating profit versus Samsung's 10% offer and a one-time special payment. The union's recent rally caused significant production drops, and a strike could cost Samsung about $20 billion. South Korean officials urge both sides to negotiate to avoid disruption, highlighting Samsung's economic importance.