South Korean Prime Minister Kim Min-seok said on Sunday that his country would consider all options, including emergency arbitration, to avert a potential strike by Samsung Electronics workers and minimize any economic damage should it occur.

He added that the company, the world's largest producer of memory chips, would resume wage negotiations with its South Korean workers' union on Monday, with a government mediator present—a move that could ease concerns about a potential strike that could disrupt the technology sector, which accounts for about a quarter of the country's exports.

Following an emergency meeting with ministers on Sunday, the prime minister said, "Just one day of shutdown at Samsung Electronics' semiconductor plant is expected to cause direct losses of up to 1 trillion won ($667.68 million)."