Employees of Samsung Electronics continued their strike for improved working conditions and increased pay, culminating in a large rally in Yongin, South Korea, on Monday. This protest marks the continuation of their action into its third week.
Approximately 1,200 members of the National Samsung Electronics Union (NSEU) participated in the rally, reflecting their demands for better compensation and benefits. The demonstration followed initial discussions between the union and Samsung regarding wage negotiations held last week.
The NSEU launched an indefinite strike on July 8, subsequent to a previous walkout that did not yield the desired advancements for its members. Although the union represents more than 30,000 workers, it is uncertain how many have engaged in the indefinite strike. Nevertheless, this action is noted as the largest strike in Samsung’s history.
Despite Samsung’s significant financial success, driven by a booming AI market, with projections indicating a second-quarter revenue increase of over 1,450% year-over-year and a ten-fold profit jump in early 2024, the NSEU claims that workers have not benefited from these record profits.
Many strikers are employed at Samsung’s foundries, which produce some of the most advanced computer chips globally. Experts highlight Samsung’s difficult relationship with unions, noting the company’s limited experience in negotiations with its workforce.
Vladimir Tikhonov, a professor of Korean studies at the University of Oslo, stated that a successful outcome for Samsung workers could inspire labor movements throughout South Korea.