Samsung employees advocating for improved working conditions and increased wages held a significant rally in South Korea on Monday, marking the continuing strike that has entered its third week.
Approximately 1,200 members of the National Samsung Electronics Union (NSEU) participated in the rally, marching through the Giheung campus in Yongin, as reported. This demonstration followed initial wage negotiations between the union and Samsung held the previous Friday.
Earlier, on July 8, NSEU workers initiated an indefinite strike after an earlier walkout did not yield the workplace advancements they were seeking. While the union represents over 30,000 employees, the exact number on an indefinite strike remains unclear. Nonetheless, this current strike stands as the largest in the history of the technology giant.
Samsung anticipates its second-quarter revenue to surge by more than 1,450% year-on-year, largely attributed to the AI boom, and it recently reported a tenfold increase in profits for the first quarter of 2024. However, NSEU claims that workers have not seen corresponding increases in their wages despite the company’s substantial financial gains.
Many of the striking workers are engaged in Samsung’s foundry operations, which produce some of the world’s most advanced computer chips. Experts indicate that Samsung has a reputation for being adversarial towards unions and lacks extensive experience in negotiating with its workforce.
According to Vladimir Tikhonov, a professor of Korean studies at the University of Oslo, if Samsung workers achieve success in their efforts, it could empower the broader labor movement across South Korea.