Employees of Samsung Electronics are currently on strike for improved working conditions and higher wages, with a substantial rally taking place in South Korea on Monday, marking the third week of their action.
Approximately 1,200 members of the National Samsung Electronics Union (NSEU) gathered and marched at the Giheung campus in Yongin. This demonstration occurred following initial wage negotiations between the union and Samsung on Friday.
The union announced an indefinite strike on July 8 after a previous walkout did not achieve the desired workplace improvements for its members. While the NSEU represents over 30,000 workers, the exact number participating in the indefinite strike remains unclear. Nevertheless, this strike is noted as the largest in Samsung’s history.
Samsung anticipates a more than 1,450% increase in revenue for the second quarter year-over-year, largely attributed to the AI sector’s growth. Additionally, the company reported a tenfold increase in profits for the first quarter of 2024. However, the NSEU claims that employees have not received corresponding pay raises despite these record profits.
Many of the striking workers are employed at Samsung’s foundry, which produces some of the world’s most advanced semiconductor technology. Experts have pointed out that Samsung has a reputation for being hostile towards unions and lacks experience in negotiating with its workforce.
Professor Vladimir Tikhonov of the University of Oslo noted that if Samsung employees succeed in their efforts, it could empower labor movements across South Korea.