Employees of Samsung Electronics are continuing their strike, now in its third week, demanding improved working conditions and higher wages. On Monday, approximately 1,200 members of the National Samsung Electronics Union (NSEU) rallied and marched at the Giheung campus in Yongin, South Korea.
The protest followed initial wage negotiation talks between the union and Samsung that took place last Friday. The NSEU initiated an indefinite strike on July 8, after an earlier attempt to secure workplace improvements fell short of their goals.
While the union represents over 30,000 employees, it remains unclear how many are participating in the indefinite strike. Nonetheless, this strike marks the largest industrial action in the history of the technology giant.
Samsung recently projected a significant surge in its second-quarter revenue, anticipating an increase exceeding 1,450% year-over-year, driven by the growing demand for artificial intelligence. The company also reported a tenfold increase in profits during the first quarter of 2024. However, the NSEU claims that employees have not received corresponding pay increases despite these record profits.
Many of the strikers are employed at Samsung’s foundry, which is responsible for manufacturing some of the world’s most advanced computer chips. Experts note that Samsung has a history of being resistant to unionization and lacks experience in engaging in negotiations with its workforce.
Professor Vladimir Tikhonov from the University of Oslo commented that if the Samsung workers achieve success in their efforts, it could significantly empower labor movements across South Korea.