Samsung employees advocating for improved working conditions and salary increments organized a substantial rally in South Korea on Monday, marking the third week of their ongoing strike against the tech giant.
Approximately 1,200 members of the National Samsung Electronics Union (NSEU) took to the streets, demonstrating alongside the firm’s Giheung campus in Yongin, South Korea, as per reports. This rally follows initial wage negotiation discussions that took place between the union and Samsung on Friday.
The NSEU initiated an indefinite strike on July 8 after a previous walkout did not achieve the desired workplace improvements. While the union represents over 30,000 employees, the exact number participating in the indefinite strike remains unclear. Nevertheless, this strike is now recognized as the largest in Samsung’s history.
Despite anticipating a staggering revenue increase of more than 1,450% year-over-year due to an AI boom, Samsung has reported a tenfold profit surge for the first quarter of 2024. However, the NSEU insists that employees are not receiving corresponding wage increases despite these impressive financial results.
The majority of striking workers are from Samsung’s foundry division, responsible for producing some of the most advanced computer chips globally. Experts suggest that Samsung’s history of being unfriendly towards unions and its limited experience in negotiations with workers contribute to the ongoing tensions.
Professor Vladimir Tikhonov from the University of Oslo remarked that if the Samsung workers achieve their goals, it could serve as a significant source of empowerment for labor movements throughout South Korea.
This situation reflects a growing awareness among workers regarding their rights and the importance of fair compensation, particularly in an era when companies are seeing unprecedented financial gains. The outcome of this strike could not only benefit Samsung employees but could also inspire workers in various sectors to advocate for their rights more vigorously.
In summary, while Samsung grapples with its labor issues, the potential emergence of victorious labor movements may herald a new chapter for workers’ rights in South Korea.