Employees of Samsung Electronics have staged a significant rally in South Korea as part of their ongoing strike, which has now entered its third week. Approximately 1,200 members of the National Samsung Electronics Union (NSEU) gathered and marched at the Giheung campus in Yongin, according to reports.
This demonstration followed initial wage negotiations held between the union and Samsung on Friday. The NSEU announced an indefinite strike on July 8 after a prior walkout did not yield the desired outcomes regarding workplace improvements.
While the union represents over 30,000 workers, it remains unclear how many have joined the indefinite strike. Nevertheless, this action is marked as the largest in the history of the technology giant.
Samsung is anticipating a more than 1,450% increase in its second-quarter revenue year-over-year, driven by advancements in artificial intelligence. The company also reported a tenfold increase in profits during the first quarter of 2024. However, the NSEU argues that employees are not reaping the benefits of these record profits through higher pay.
Many strikers are employed in Samsung’s foundry, where some of the world’s most advanced microchips are manufactured. Despite its financial success, Samsung has a reputation for being resistant to unionization and has limited experience in bargaining with its workforce.
Experts indicate that if Samsung workers achieve their goals, it could inspire and empower labor movements across South Korea.