Samsung employees are currently engaged in a significant strike calling for enhanced working conditions and increased wages, with a major rally taking place in South Korea this past Monday. This ongoing strike, now entering its third week, has attracted approximately 1,200 members of the National Samsung Electronics Union (NSEU), who demonstrated along the Giheung campus in Yongin.
This rally follows recent negotiations between Samsung and the NSEU, which took place last Friday. The indefinite strike began on July 8 after an earlier walkout did not achieve the desired improvements in workplace conditions. While the NSEU represents over 30,000 workers, the exact number participating in the indefinite strike remains uncertain. Nonetheless, this protest marks the largest labor action in the company’s history.
Samsung has reported staggering financial success, with a projected revenue increase of over 1,450% year-over-year, attributed to a boom in artificial intelligence. Additionally, the company has announced a tenfold rise in profits for the first quarter of 2024. Despite these record earnings, the NSEU asserts that employees have not seen corresponding salary increases.
Many striking workers are involved in Samsung’s foundry operations, where some of the world’s most advanced computer chips are produced. However, experts indicate that Samsung has a history of being resistant to unionization and lacks experience in negotiating with labor representatives.
If the workers succeed in their efforts, it could have a profound impact on labor movements across South Korea, as noted by Vladimir Tikhonov, a professor of Korean studies at the University of Oslo. This situation highlights the potential for positive change in labor relations within the country, fostering a greater sense of empowerment among workers.
In summary, while Samsung’s financial success is remarkable, the disparity between corporate profits and employee wages raises critical questions about labor rights and fair compensation. The outcome of this strike may not only reshape the future of Samsung but also inspire a wave of labor activism throughout South Korea.