Samsung has signed 'a final settlement' over workers who contracted cancer after working in its semiconductor plants.
The deal, signed by the South Korean electronics giant and two groups representing the victims and their families, aims to improve health and safety conditions at all Samsung's plants.
The parties agreed to establish an independent committee to conduct 'a thorough inspection of Samsung's facilities and release reports on any areas for improvement,' the company said.
But a victims' advocacy group said key issues remained unresolved.
Samsung has signed 'a final settlement' over workers who contracted cancer after working in its semiconductor plants. The deal, signed by the South Korean electronics giant and two groups representing the victims and their families, aims to improve health and safety conditions at all Samsung's plants
Lawyers for the victims claim 244 employees at Samsung's chip and display plants developed rare diseases linked to hazardous conditions, of whom 87 died.
Samsung fought the claims for years but issued an apology in May 2014, and then set up a compensation fund last year.
It has received more than 150 applications since starting this fund, and more than 100 people have accepted compensation.
In its statement on Tuesday, the company thanked the mediation committee for its dedication to 'making this final settlement possible.'
'In the big picture, it is correct to say everything has now been settled,' a Samsung official told AFP.
'But Samsung remains open to talks as the agreements are put into practise.'
Samsung has in the past denied links between diseases reported by the victims, which include leukaemia and brain tumours, and chemicals used in its plants.
However, South Korean courts have formally connected cancers or precancerous blood conditions to semiconductor work for Samsung.
The company said it is committed to compensating workers and their families.
However, Banolim - one of the groups representing the victims - said the matter was still far from closed, arguing that Samsung's apology and its fund had never been fully approved by all the victims' families.
'Samsung has refused to discuss the issues of apology and compensation with us,' Kwon Young-Eun, a member of the group, said.
'We will continue to demand Samsung address these issues properly,' Kwon said.
Shares dropped by 0.5 per cent following the announcement.
This settlement will not help improve Samsung's fortunes after its future was called into question in recent months.
In a message to employees last week, the firm's chief executive Kwon Oh-hyun warned that growth in the company will continue to be slow over the next 12 months, and he blamed it on weak economies and growing competition.
Samsung has in the past denied links between diseases reported by the victims, which include leukaemia and brain tumours, and chemicals used in its plants. A Samsung office in South Korea is pictured. However, South Korean courts have connected cancers or precancerous blood conditions to work for Samsung
The warning was made as part of the chief executive's New Year report to his staff.
In his statement, he said he expects a difficult business environment in 2016 due to weak global economic conditions and heightened competition in key businesses including memory chips and smartphones.
Samsung shares dropped by 3.4 per cent overnight, after earlier dropping 3.5 percent to a three-month low, while the broader Seoul market was off 1.5 per cent.
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