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 of the company’s plants.
The parties agreed to establish an independent committee to conduct “a thorough inspection of company’s facilities and release reports on any areas for improvement,” according a statement.
Lawyers for the victims say 244 employees at Samsung’s chip and display plants developed rare diseases linked to hazardous conditions, of whom 87 died.
The South Korean electronics giant fought the claims for years but issued an apology in May 2014, and then set up a compensation fund last year.
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,” an official told AFP. “But the company remains open to talks as the agreements are put into practise.”
However, Banolim — one of the groups representing the victims — said the matter was still far from closed, arguing that the company’s apology and its fund had never been fully approved by all the victims’ families.
“It has refused to discuss the issues of apology and compensation with us,” Kwon Young-Eun, a member of the group, told AFP.
The company says it has already provided financial compensation for more than 100 out of 150 applicants to its fund.