Employees of Samsung Electronics are continuing their strike for improved working conditions and higher wages, holding a significant rally in South Korea on Monday, marking the third week of their protest. Approximately 1,200 members of the National Samsung Electronics Union (NSEU) participated in the march at the Giheung campus located in Yongin, South Korea, as reported by the Associated Press.
This demonstration followed initial wage negotiation discussions that occurred on Friday between the union and Samsung, as noted by Bloomberg.
The NSEU had declared an indefinite strike on July 8 after a previous walkout did not achieve the workplace improvements its members were seeking. While the union represents over 30,000 workers, the exact number participating in the indefinite strike remains unclear, making this action the largest in Samsung’s history.
Samsung has projected a sharp increase in its second-quarter revenue, forecasting a rise of over 1,450% year-on-year, largely attributed to a surge in artificial intelligence business. Additionally, the company reported a tenfold increase in profits during the first quarter of 2024. However, the NSEU claims that workers have not benefitted from these substantial profits in terms of salary increases.
Many striking workers are employed at Samsung’s foundry, where they manufacture some of the most advanced computer chips globally, according to AFP.
Experts point out that Samsung has a reputation for being unfriendly towards unions and lacks extensive experience in employee negotiations. Professor Vladimir Tikhonov from the University of Oslo remarked that if Samsung employees succeed, it could empower the broader labor movement across South Korea.