Workers at Samsung Electronics, advocating for improved working conditions and better pay, staged a significant rally in South Korea on Monday, marking the third week of their strike. Approximately 1,200 members of the National Samsung Electronics Union (NSEU) participated in the demonstration at the Giheung campus in Yongin, according to reports.
This rally followed initial wage negotiations conducted between the union and Samsung on Friday. The NSEU workers had initiated an indefinite strike on July 8, after a previous walkout did not yield the workplace improvements sought by members.
While the union represents over 30,000 employees, the exact number of those currently participating in the indefinite strike remains unclear. Nonetheless, this strike is being recognized as the largest in Samsung’s history.
Despite Samsung Electronics expecting a substantial increase in second-quarter revenue, projected to rise by over 1,450% year-over-year due to the AI industry’s growth, the union claims workers have not seen similar increases in their wages. Samsung reported a ten-fold profit surge in the first quarter of 2024, highlighting a significant disconnect between corporate earnings and employee compensation.
Many strikers are employed in Samsung’s foundry, contributing to the production of advanced computer chips. Additionally, experts note that Samsung has a reputation for being resistant to union activities, which complicates negotiations with its workforce.
According to Vladimir Tikhonov, a professor of Korean studies at the University of Oslo, if the workers succeed in their efforts, it could strengthen the labor movement throughout South Korea.