Employees at Samsung are striking for improved working conditions and increased pay, holding a large rally in South Korea on Monday as their protest enters its third week.
Approximately 1,200 members of the National Samsung Electronics Union (NSEU) gathered and marched at the Giheung campus in Yongin, according to reports. This demonstration follows initial wage negotiations between the union and Samsung that took place last Friday.
The NSEU announced an indefinite strike on July 8 after a previous walkout did not achieve the desired improvements in the workplace. While the union represents over 30,000 workers, it remains unclear how many have joined the indefinite strike. Nonetheless, this action marks the largest strike in the company’s history.
Samsung is anticipating a significant rise in its second-quarter revenue, with projections of more than 1,450% year-over-year growth attributed to advancements in AI. Additionally, the company reported a tenfold increase in profits in the first quarter of 2024. However, the NSEU has stated that employees have not seen corresponding pay increases despite these record profits.
Many of the striking workers are employed at Samsung’s foundry, where some of the world’s most advanced computer chips are manufactured. Experts point out that Samsung has a challenging track record concerning union relations and lacks extensive experience in negotiating with its workforce.
Vladimir Tikhonov, a professor of Korean studies at the University of Oslo, noted that if Samsung employees succeed in their current efforts, it could significantly empower labor movements throughout South Korea.