Samsung employees advocating for improved working conditions and increased wages organized 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, South Korea, as reported by the Associated Press. The rally followed initial wage negotiation discussions between the union and Samsung that occurred on Friday, according to Bloomberg.
The NSEU first declared an indefinite strike on July 8 after an earlier walkout failed to achieve the desired workplace improvements for its members. While the union represents over 30,000 employees, the exact number participating in the indefinite strike remains uncertain. Nonetheless, this action is noted as the largest strike in Samsung’s history.
In its latest financial outlook, Samsung anticipates a staggering rise in second-quarter revenue, expected to increase more than 1,450% year-over-year, propelled by a surge in AI-related business. The company also reported a tenfold increase in profits for the first quarter of 2024. However, NSEU members argue that despite these record financial gains, they have not seen corresponding increases in their pay.
Many of the striking workers are involved in Samsung’s foundry, where some of the most advanced computer chips globally are produced, as stated by AFP.
Experts highlight that Samsung has a reputation for being unfriendly towards unions and lacks experience in negotiating with its workforce. Vladimir Tikhonov, a professor of Korean studies at the University of Oslo, commented that if Samsung workers succeed in their current efforts, it could empower the broader labor movement in South Korea.