Employees from the National Samsung Electronics Union (NSEU) staged a significant rally in South Korea on Monday, marking the ongoing strike against the company, which has now entered its third week. Approximately 1,200 union members marched at the Giheung campus in Yongin, as reported by the Associated Press.
The demonstration followed initial wage negotiation discussions held between the union and Samsung last Friday, according to Bloomberg. The NSEU declared an indefinite strike on July 8 after a previous walkout did not secure the workplace improvements sought by its members.
While the union represents over 30,000 employees, the exact number participating in the indefinite strike remains unclear. Nevertheless, this strike is recognized as the largest in the company’s history.
Despite an expected second-quarter revenue increase of over 1,450% year-over-year, driven by an AI boom, Samsung has reported a tenfold increase in profits for the first quarter of 2024. Nevertheless, the NSEU has expressed concerns that workers are not witnessing corresponding wage increases despite these record profits.
Many of the striking employees are part of Samsung’s foundry, where they produce some of the world’s most advanced computer chips. Experts note that Samsung has a reputation for being resistant to unions and has limited experience in negotiating with its workforce.
“If Samsung workers succeed in this endeavor, it will empower the rest of South Korea’s labor,” stated Vladimir Tikhonov, a professor of Korean studies at the University of Oslo, in an interview with AFP.