Employees at Samsung Electronics are conducting a significant rally in South Korea to demand better working conditions and higher wages, as their strike enters its third week. Approximately 1,200 members of the National Samsung Electronics Union (NSEU) gathered and marched at the Giheung campus in Yongin. This demonstration follows initial wage negotiations held between the union and the company last Friday.
The NSEU declared an indefinite strike on July 8 after a previous walkout did not result in the desired workplace improvements. While the union represents over 30,000 workers, it remains unclear how many are participating in the indefinite strike. Nevertheless, this strike is being recognized as the largest in the history of the technology giant.
Despite Samsung’s forecast of a significant increase in second-quarter revenue, projected to grow over 1,450% year-over-year due to a surge in artificial intelligence demand, workers have not seen corresponding pay increases. The company recently reported a tenfold rise in profits for the first quarter of 2024, leaving union members frustrated with the lack of financial benefits from the record earnings.
Many of the striking workers are employed at Samsung’s foundry, which is known for producing some of the world’s most advanced computer chips. Moreover, Samsung has a reputation for being unfriendly towards unions and lacks experience in negotiating with its labor force. Experts suggest that if the Samsung workers succeed, it could serve as a catalyst for empowering the broader labor movement in South Korea.