Samsung employees are currently engaged in a significant strike for improved working conditions and increased pay, holding a large rally on Monday in South Korea as their protest enters its third week. Approximately 1,200 members of the National Samsung Electronics Union (NSEU) gathered to demonstrate along the Giheung campus in Yongin, highlighting their demands for better compensation and benefits.
This action follows initial wage negotiation discussions between the union and Samsung, which took place on Friday. The NSEU declared an indefinite strike on July 8 after previous attempts to negotiate improvements did not yield the desired outcomes.
While the union claims to represent over 30,000 workers, the exact number participating in the indefinite strike remains unclear. Nonetheless, this current strike is noted to be the largest in Samsung’s history.
Despite Samsung’s forecast of a dramatic revenue increase—over 1,450% year-over-year attributed to advances in artificial intelligence—and a reported tenfold rise in profits for the first quarter of 2024, the NSEU asserts that employees are not seeing corresponding increases in their paychecks.
Many striking workers are employed at Samsung’s foundry, which is responsible for manufacturing cutting-edge computer chips. Expert commentators point out Samsung’s historical resistance to unions and its limited experience in labor negotiations.
A professor of Korean studies at the University of Oslo, Vladimir Tikhonov, remarked that a successful outcome for Samsung workers could inspire and strengthen labor movements across South Korea, potentially leading to broader improvements in the rights and conditions of workers in various sectors.
This ongoing strike not only sheds light on the struggles within a major technology firm but also serves as a potential turning point for labor relations in the industry, underscoring the need for fair treatment and respect for workers’ rights. The outcome of this situation could pave the way for more robust labor agreements in the future, promoting a healthier balance between corporate success and employee welfare.