Samsung Strikes: Workers Rally for Fair Wages Amid Record Profits

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Samsung employees demanding improved working conditions and better pay participated in a large rally in South Korea on Monday, marking three weeks of ongoing strikes against the company.

Around 1,200 members of the National Samsung Electronics Union (NSEU) marched through the Giheung campus in Yongin, as reported by the Associated Press. This rally followed initial wage negotiation discussions that took place between the union and Samsung on Friday, according to Bloomberg.

The NSEU had announced an indefinite strike on July 8 after a previous walkout did not yield the workplace improvements its members sought. While the union represents over 30,000 employees, it remains unclear how many are currently participating in the indefinite strike. Nevertheless, this strike is recognized as the largest in the company’s history.

Despite Samsung Electronics expecting a significant revenue increase of over 1,450% year-over-year due to a surge in AI technology, and reporting a tenfold profit rise in the first quarter of 2024, the NSEU claims that workers have not seen corresponding wage increases.

A significant number of strikers are employed at Samsung’s foundry, which specializes in the production of cutting-edge computer chips.

Experts note that Samsung has a reputation for being unfriendly towards unions and lacks experience in engaging in negotiations with its employees. Vladimir Tikhonov, a professor of Korean studies at the University of Oslo, stated that if Samsung workers succeed in their efforts, it could empower labor movements across South Korea.

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