Employees at Samsung are continuing their strike for improved working conditions and higher salaries, now entering its third week, as they held a large rally in South Korea on Monday. Approximately 1,200 members of the National Samsung Electronics Union (NSEU) gathered and marched at the Giheung campus in Yongin.
The demonstration followed initial wage negotiations between the union and Samsung, which took place on Friday. Workers from the NSEU initiated an indefinite strike on July 8 after an earlier walkout did not achieve the desired workplace improvements.
While the union represents over 30,000 staff members, it is unclear exactly how many have participated in the ongoing indefinite strike, which is already being noted as the largest in the company’s history.
Samsung anticipates a significant increase in its second-quarter revenue, projecting a rise of over 1,450% year-over-year due to the boom in artificial intelligence. The company also reported a tenfold increase in its profits for the first quarter of 2024. However, the NSEU claims that workers have not benefitted from these substantial financial gains.
A significant portion of the strikers are involved in Samsung’s foundry operations, which are responsible for manufacturing some of the world’s most advanced semiconductor chips. Experts point out that Samsung has historically been resistant to unionization and lacks experience in negotiating with its workforce.
Vladimir Tikhonov, a professor of Korean studies at the University of Oslo, noted that if Samsung workers succeed in their efforts, it could empower labor movements across South Korea.