Employees of Samsung are striking for improved working conditions and higher wages, having organized a large rally in South Korea on Monday, marking the third week of their action.
Approximately 1,200 members of the National Samsung Electronics Union (NSEU) participated in the demonstration, marching through the Giheung campus in Yongin, as reported. This rally followed initial wage negotiations between the union and Samsung that took place last Friday.
The NSEU had previously announced an indefinite strike starting July 8 after an earlier walkout failed to produce the desired workplace improvements. While the union represents over 30,000 workers, the exact number currently striking remains unclear, but this action is noted as the largest in Samsung’s history.
Despite Samsung’s projections of a more than 1,450% increase in second-quarter revenue year-over-year attributed to the surge in AI, and a tenfold rise in profits for the first quarter of 2024, union representatives argue that workers have not seen corresponding wage increases.
Many striking employees are involved in the production of some of the world’s most advanced computer chips at Samsung’s foundry. Experts note that Samsung has a reputation for being unfriendly toward unions and has limited experience in negotiating with its workforce.
According to Vladimir Tikhonov, a professor of Korean studies at the University of Oslo, if the Samsung workers succeed in their strike, it could significantly strengthen labor movements across South Korea.