Samsung employees advocating for improved working conditions and increased pay gathered for a large rally in South Korea on Monday, as their strike against the company entered its third week.
Approximately 1,200 members of the National Samsung Electronics Union (NSEU) participated in the rally at the Giheung campus in Yongin, according to reports. This action follows the initial wage negotiation discussions between the union and Samsung that took place on Friday.
The NSEU announced an indefinite strike on July 8, following a previous attempt to secure better working conditions that did not yield the desired results. Although the union represents over 30,000 workers, it remains unclear how many are actively striking. Nonetheless, this ongoing strike marks the largest in Samsung’s history within the technology sector.
Samsung expects its second-quarter revenue to surge by more than 1,450% year-over-year, driven by the AI market boom. Additionally, profits reported for the first quarter of 2024 saw a tenfold increase. However, the NSEU has stated that employees have not benefitted from these substantial financial gains in terms of salary increases.
Many of the striking workers are employed at Samsung’s foundry, which produces some of the most advanced computer chips globally. Analysts indicate that Samsung has historically been resistant to unionization and lacks experience in negotiating with its workforce.
Experts believe that if Samsung workers achieve their goals, it could serve as a catalyst for strengthening labor movements across South Korea, as noted by Vladimir Tikhonov, a professor of Korean studies at the University of Oslo.