In a significant labor movement, over 1,200 employees of the National Samsung Electronics Union (NSEU) held a large rally in Yongin, South Korea, on Monday, marking the third week of their strike for improved working conditions and higher wages. This unprecedented strike highlights the ongoing tensions between workers advocating for their rights and a company that has historically shown resistance towards union negotiations.
The rally coincided with initial wage discussions between the union and Samsung, which took place last Friday. The NSEU had previously announced an indefinite strike starting July 8 after an earlier walkout did not achieve the desired gains. Despite the union representing over 30,000 employees, it remains unclear how many are participating in this indefinite strike. However, it is the largest labor action in Samsung’s history.
Despite Samsung’s impressive financial performance, bolstered by a surge in AI-related technologies, the workers feel left out of the financial success. The company expressed expectations of a staggering 1,450% increase in second-quarter revenue compared to the previous year, alongside a ten-fold rise in profits within the first quarter of 2024. Nevertheless, NSEU members contend that their earnings have not reflected these gains.
Most of the striking workers are employed in Samsung’s foundry, where some of the most sophisticated computer chips in the world are manufactured. Experts have noted that Samsung has a reputation for being difficult when it comes to union negotiations, which could complicate the current situation.
Analysts emphasize the potential ramifications of this strike, stating that if Samsung workers achieve their goals, it could set a precedent that empowers labor movements throughout South Korea. As pointed out by Vladimir Tikhonov, a Korean studies professor at the University of Oslo, the outcome of this strike could resonate beyond the company, influencing labor rights across the nation.
This situation presents a crucial opportunity for change within South Korea’s labor landscape, symbolizing workers’ growing resolve to assert their rights amidst corporate successes. The perseverance of the employees may inspire similar movements in other sectors, fostering a more equitable environment for workers in the country.