Samsung Electronics has offered an official apology to its former workers suffering from work-related diseases.

Samsung Electronics CEO Kim Ki-nam said on Friday in central Seoul that the workers and their families suffered for a long time but the firm did not work hard enough to relieve their pain and resolve the dispute swiftly. 

Samsung and an advocacy group representing victims of work-related diseases also signed a final settlement, putting an end to the decade-long dispute that started in 2007. 

The final settlement presented by the mediation committee for the dispute stipulates the two sides faithfully implement the details of the settlement. 

Under the settlement, Samsung will pay compensation to the victims of up to 150 million won per person and provide 50 billion won to set up funds for industrial safety and health.