Employees of Samsung Electronics are currently engaged in a significant strike for improved working conditions and higher wages, now entering its third week. On Monday, approximately 1,200 members of the National Samsung Electronics Union (NSEU) staged a large rally at the Giheung campus in Yongin, South Korea, as reported by the Associated Press.
The strike follows initial wage negotiations that took place on Friday between the union and Samsung, according to Bloomberg. The NSEU first announced an indefinite strike on July 8 after an earlier walkout did not result in the desired workplace improvements.
While the union represents over 30,000 workers, the exact number involved in the indefinite strike remains uncertain. However, this current strike is noted as the largest in the history of the tech company.
Samsung has predicted that its revenue for the second quarter will see an increase of more than 1,450% compared to the previous year, attributing this surge to the boom in artificial intelligence. Additionally, the company reported a tenfold increase in profits during the first three months of 2024. Despite these record-breaking returns, the NSEU has stated that employees have not received corresponding increases in pay.
Many strikers are employed at Samsung’s foundry, where some of the world’s most advanced computer chips are manufactured. Experts point out that Samsung has a history of being resistant to unions and lacks experience in negotiating with its workforce.
Vladimir Tikhonov, a professor of Korean studies at the University of Oslo, commented that if Samsung workers are successful in their efforts, it could strengthen labor movements across South Korea.