<body><p>STORY: Samsung Electronics' shares surged Thursday after it clinched a deal with its South Korean union to avert an 18-day strike by some 48,000 workers.</p><p>Shares in the world's largest memory chipmaker rocketed around 8% higher Thursday afternoon in Seoul.</p><p>The agreement sparked relief, as Samsung accounts for about a quarter of the country's exports...</p><p>and a strike could inflict significant damage on the economy and dent global chip supply.</p><p>However, terms in the deal, including hefty bonuses for some workers, sparked concern the firm could face soaring labor costs. </p><p>One union source says a memory chip worker with a base salary of about $53,000, for example, is expected to receive a bonus of around $416,000.</p><p>A document showed these bonuses would be paid in company stock for at least 10 years and conditional upon the chip division achieving targets.</p><p>Under the deal, Samsung is expected to set aside about 10.5% of operating profit to cover the special payouts. </p><p>However, one analyst said that the plan to pay bonuses in stock could limit the immediate financial burden on the company.</p></body>
