Samsung Strikes: Workers Rally for Change Amid Record Profits

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Samsung employees demanding improved working conditions and higher wages gathered for a significant rally in South Korea on Monday, marking the third week of their strike against the company.

Approximately 1,200 members of the National Samsung Electronics Union (NSEU) participated in the demonstration, marching through the Giheung campus in Yongin, as reported by the Associated Press.

This rally followed preliminary wage negotiations held between the union and Samsung last Friday, according to Bloomberg.

The NSEU announced an indefinite strike on July 8 after a previous walkout failed to achieve the workplace improvements its members seek. While the union represents over 30,000 employees, the exact number participating in the indefinite strike remains unclear. Nonetheless, this strike is noted as the largest in the history of the technology giant.

Despite Samsung’s projections of a more than 1,450% increase in second-quarter revenue year-over-year, fueled by the AI boom, and a tenfold rise in profits for the first quarter of 2024, NSEU members claim they have not seen corresponding pay increases.

Many strikers are employed at Samsung’s foundry, known for producing some of the world’s most advanced computer chips, as reported by AFP.

Experts indicate that Samsung has historically been resistant to unionization and lacks experience in negotiating with its workforce. According to Vladimir Tikhonov, a Korean studies professor at the University of Oslo, if Samsung workers succeed in their efforts, it could inspire the broader labor movement in South Korea.

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