Employees at Samsung are continuing their strike for improved working conditions and higher wages, holding a significant rally in South Korea on Monday. This action marks the third week of their protest.
Approximately 1,200 members of the National Samsung Electronics Union (NSEU) participated in the rally, which took place at the Giheung campus in Yongin, South Korea, as reported by the Associated Press. This demonstration followed initial wage negotiation discussions between the union and Samsung on Friday, as noted by Bloomberg.
The indefinite strike commenced on July 8 after a previous walkout did not achieve the workplace improvements sought by its members. While the union represents over 30,000 employees, the exact number participating in the indefinite strike is unclear. However, this strike is characterized as the largest in the history of the technology firm.
Despite an anticipated surge in Samsung’s second-quarter revenue—projected to increase over 1,450% year-over-year due to a boom in artificial intelligence—and a tenfold profit increase for the first quarter of 2024, the NSEU claims workers are not seeing corresponding pay raises amidst these record high profits.
Many striking employees are involved in the foundry operations, where they produce some of the world’s most advanced computer chips. Experts also highlight that Samsung has a history of being hostile towards unions and lacks extensive experience in negotiating with its workforce.
Vladimir Tikhonov, a professor of Korean studies at the University of Oslo, stated that if the Samsung workers achieve success in their efforts, it could empower labor movements across South Korea.