Samsung employees advocating for improved working conditions and higher wages held a significant 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) participated in the rally, marching through the Giheung campus in Yongin, South Korea. This demonstration followed initial wage negotiation discussions between the union and Samsung that took place on Friday.
The NSEU had declared an indefinite strike on July 8 after an earlier walkout did not yield the desired workplace improvements for its members. While the union represents over 30,000 employees, the exact number of those striking indefinitely remains unclear. Nevertheless, this ongoing strike stands as the most significant in Samsung’s history.
The company forecasts a remarkable increase in its second-quarter revenue, projecting a surge of more than 1,450% year-over-year, largely attributed to the booming AI sector. Samsung also reported a tenfold increase in profits for the first quarter of 2024. However, the NSEU has expressed that workers have not experienced corresponding increases in their wages despite the company’s record financial performance.
Many striking employees are involved in Samsung’s foundry operations, which are responsible for producing some of the most advanced computer chips globally. Experts have noted that Samsung has a history of being resistant to unionization and lacks extensive experience in negotiating with its workforce.
Vladimir Tikhonov, a professor of Korean studies at the University of Oslo, stated that if Samsung workers achieve their goals, it could empower labor movements throughout South Korea.