Samsung employees advocating for improved working conditions and better pay gathered for a significant rally in South Korea on Monday, marking the third week of their ongoing strike. 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.
The rally occurred following recent wage negotiation discussions between the union and Samsung, held last Friday, according to Bloomberg. The indefinite strike commenced on July 8 after an earlier walkout did not achieve the desired workplace improvements. While the union includes over 30,000 workers, the exact number of those participating in the current indefinite strike remains unclear. This strike is noted to be the largest in Samsung’s history.
Samsung Electronics is projecting a remarkable second-quarter revenue increase of over 1,450% year-over-year, spurred by advancements in artificial intelligence. Additionally, the company reported a ten-fold increase in profits for the first quarter of 2024. Despite these substantial financial gains, NSEU representatives highlight that workers have not seen corresponding increases in their wages.
A significant portion of the striking workforce is involved in the production of cutting-edge computer chips at Samsung’s foundry. Experts indicate that Samsung has a reputation for being resistant to unionization and lacks experience in negotiations with its employees.
Vladimir Tikhonov, a professor of Korean studies at the University of Oslo, noted that if the workers succeed in their efforts, it could serve as a source of empowerment for labor movements across South Korea.
This situation underscores a pivotal moment for labor rights and signals a growing awareness among workers regarding fair compensation and conditions. If successful, this strike could inspire similar movements and negotiations in various sectors, fostering a more equitable dialogue between workers and corporations in South Korea.
In summary, the ongoing strike by Samsung workers represents a significant labor movement seeking better pay and working conditions amid the company’s historical financial success. The outcomes of this strike could have far-reaching implications for labor rights in South Korea.