Employees of Samsung are currently engaged in a strike for improved working conditions and higher wages, with a significant rally taking place in South Korea on Monday, marking three weeks of their action against the company.
Approximately 1,200 workers from the National Samsung Electronics Union (NSEU) rallied and marched at the Giheung campus in Yongin, as reported by the Associated Press. This demonstration followed recent wage negotiation discussions held between the union and Samsung on Friday, according to Bloomberg.
The NSEU organized an indefinite strike starting July 8 after a previous walkout did not achieve the workplace improvements its members sought. Although the union represents over 30,000 employees, the exact number of those currently participating in the indefinite strike remains unclear. Nevertheless, this strike has become the largest in the history of the technology giant.
Samsung has projected a substantial increase in its second-quarter revenue, expecting it to rise over 1,450% year-over-year, largely due to a boom in artificial intelligence. The company also reported a tenfold increase in profits for the first quarter of 2024. Despite these impressive financial results, the NSEU claims that workers have not seen corresponding increases in their wages.
A significant portion of the striking employees is engaged at Samsung’s foundry, specializing in the production of some of the world’s most advanced computer chips, as noted by AFP.
Experts highlight that Samsung has a challenging history with unions and lacks extensive experience in negotiating with its workforce. Vladimir Tikhonov, a professor of Korean studies at the University of Oslo, stated that if Samsung workers succeed in their efforts, it could empower labor movements throughout South Korea.