Employees of Samsung Electronics are currently on strike, demanding improved working conditions and higher wages, with a significant rally taking place in South Korea on Monday. This marks the third week of their action against the company.
Approximately 1,200 members of the National Samsung Electronics Union (NSEU) participated in the protest, marching at the Giheung campus located in Yongin. This demonstration followed initial wage negotiations that took place on Friday between the union and Samsung.
The strike began on July 8 after earlier efforts to secure better workplace conditions ended unsuccessfully. While the union represents over 30,000 workers, it remains unclear how many are actively participating in the indefinite strike, which is reportedly the largest in Samsung’s history.
Samsung anticipates a significant increase in its second-quarter revenue, projecting a rise of more than 1,450% year-over-year, largely attributed to a boom in artificial intelligence. The company also announced a tenfold increase in its profits for the first quarter of 2024. However, the NSEU has pointed out that despite these record profits, workers have not seen corresponding raises in their salaries.
Many strikers are employed at Samsung’s foundry facilities, which produce some of the most advanced computer chips globally. Observers note that Samsung has a history of being adverse to union activities and lacks experience in negotiating with its workforce.
Experts assert that if the strike proves successful, it could have a significant impact on labor movements across South Korea, as stated by Vladimir Tikhonov, a professor of Korean studies at the University of Oslo.