Samsung employees who are striking for improved working conditions and higher wages participated in a large rally in South Korea on Monday, marking the third week of their protest against the company.
Approximately 1,200 members of the National Samsung Electronics Union (NSEU) rallied and marched at the Giheung campus in Yongin, according to reports. This demonstration followed the initial wage negotiations held between the union and Samsung last Friday.
The NSEU announced an indefinite strike on July 8 after an earlier walkout did not achieve the desired workplace improvements. Although the union represents over 30,000 workers, it remains uncertain how many are actively participating in the indefinite strike. Nonetheless, this action is recognized as the largest in the company’s history.
Samsung has projected a dramatic increase in its second-quarter revenue, estimating growth of more than 1,450% year-over-year, driven by a boom in artificial intelligence. The company also reported a tenfold increase in profits during the first quarter of 2024. However, the NSEU claims that employees have not seen corresponding raises in their salaries despite these record profits.
Many participants in the strike are employed at Samsung’s foundry, where some of the world’s most advanced computer chips are manufactured. Experts point out that Samsung has a reputation for being unfriendly toward unions and lacks experience in negotiating with its workforce.
Vladimir Tikhonov, a professor of Korean studies at the University of Oslo, commented that if Samsung workers are successful in their efforts, it could inspire the broader labor movement across South Korea.