Employees at Samsung have been striking for improved working conditions and higher wages, holding a significant rally in South Korea on Monday as their protest enters its third week.
Approximately 1,200 members of the National Samsung Electronics Union (NSEU) participated in the rally, which took place at the Giheung campus in Yongin. This demonstration follows initial wage negotiations between the union and the company that occurred on Friday.
The NSEU declared an indefinite strike on July 8, prompted by an earlier walkout that did not result in the necessary workplace improvements for its members. While the union represents over 30,000 workers, it remains unclear how many are currently involved in the indefinite strike, which is said to be the largest in Samsung’s history.
Despite Samsung’s forecasts of a more than 1,450% increase in second-quarter revenue year-over-year driven by an AI boom and a tenfold rise in profits for the first quarter of 2024, workers assert that they have not seen commensurate pay raises amidst the company’s record financial success.
Many striking employees are employed at Samsung’s foundry, which is known for producing some of the most advanced computer chips globally.
Experts note that Samsung has a challenging history with labor unions and lacks experience in negotiating with its workforce. According to Vladimir Tikhonov, a professor of Korean studies at the University of Oslo, if Samsung workers are successful in their efforts, it could empower labor movements throughout South Korea.