Samsung employees are currently engaged in a strike for improved working conditions and higher wages, with a significant rally taking place in South Korea on Monday. This strike, now in its third week, involved approximately 1,200 members of the National Samsung Electronics Union (NSEU) marching at the Giheung campus in Yongin, as reported by the Associated Press.
The rally followed initial wage negotiation discussions between the union and Samsung, which took place on Friday, according to Bloomberg. The NSEU launched an indefinite strike on July 8 after earlier efforts to negotiate workplace improvements did not succeed.
While the union represents over 30,000 workers, the exact number participating in the indefinite strike is unclear. Nonetheless, this strike marks the largest labor action in Samsung’s history.
Samsung Electronics anticipates a significant rise in its second-quarter revenue, projecting an increase of 1,450% year-over-year, largely attributed to advancements in artificial intelligence. The company also reported a tenfold increase in profits during the first quarter of 2024. Despite these financial successes, the NSEU claims that employees have not seen corresponding pay increases.
Many of the striking workers are involved in Samsung’s foundry operations, producing cutting-edge computer chips. Experts note that Samsung has a history of being unfriendly towards unions and lacks experience in negotiating with its workforce.
Vladimir Tikhonov, a professor of Korean studies at the University of Oslo, commented that if Samsung workers succeed in their strike, it could have a positive ripple effect on labor movements throughout South Korea.