Samsung employees demanding improved working conditions and higher wages held a significant rally in South Korea on Monday, marking the third week of their strike against the company.
Approximately 1,200 members of the National Samsung Electronics Union (NSEU) participated in the demonstration, marching through the Giheung campus in Yongin, according to reports. This rally followed initial wage negotiations between the union and Samsung that took place on Friday.
The NSEU had declared an indefinite strike on July 8 after a previous walkout did not achieve the desired workplace improvements. Despite representing over 30,000 employees, the exact number of those currently on indefinite strike remains unclear, although this action is noted as the largest in the company’s history.
Samsung anticipates a significant increase in its second-quarter revenue, projecting more than a 1,450% rise year-over-year, attributed to a surge in AI-related activities. Additionally, the company reported a tenfold increase in profits for the first quarter of 2024. However, the NSEU argues that workers are not experiencing corresponding wage increases despite the company’s record profits.
Many strikers are employed at Samsung’s foundry, which produces some cutting-edge computer chips. Experts indicate that Samsung has a history of being resistant to union activities and has limited experience in negotiations with its workforce.
Professor Vladimir Tikhonov, a Korean studies specialist at the University of Oslo, remarked that if Samsung workers achieve success in their current efforts, it could strengthen the position of labor across South Korea.