Employees of Samsung Electronics are continuing their strike for improved working conditions and higher wages, as they held a significant rally in South Korea on Monday. This demonstration marks the third week of their strike action.
Approximately 1,200 members of the National Samsung Electronics Union (NSEU) participated in the rally, marching through the Giheung campus in Yongin. This event 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 previous efforts to negotiate better workplace conditions did not yield results. While the union represents over 30,000 workers, it remains unclear how many are currently participating in the indefinite strike, which is noted to be the largest in the company’s history.
Despite Samsung forecasting a staggering 1,450% increase in second-quarter revenue year-over-year, credited largely to advancements in artificial intelligence, and a tenfold rise in profits during the first quarter of 2024, the NSEU claims that employees have yet to see any pay increases amidst these record earnings.
A significant number of the striking employees are involved in Samsung’s foundry operations, where they are responsible for manufacturing some of the industry’s most advanced computer chips.
Experts highlight that Samsung has a history of being resistant towards unions and lacks experience in negotiating with its workforce. Observers note that a successful outcome for Samsung workers could inspire a broader movement among labor groups in South Korea.