Employees of Samsung Electronics are currently in the third week of a strike for improved working conditions and higher wages, with a large rally taking place 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, as reported by the Associated Press.
This rally followed initial wage negotiation discussions between the union and Samsung that took place on Friday, according to Bloomberg. The strike began on July 8, after previous efforts to enact workplace improvements were unsuccessful.
While the NSEU represents over 30,000 workers, the exact number participating in the indefinite strike remains unclear. Nevertheless, this strike is being described as the largest in Samsung’s history.
Samsung has projected a significant increase of over 1,450% in its second-quarter revenue year-over-year, driven by advancements in artificial intelligence. The company also reported a tenfold increase in profits for the first quarter of 2024. However, the union claims that workers have not benefitted from these record profits in terms of salary increases.
A significant portion of the striking workers are employed at Samsung’s foundry, responsible for manufacturing some of the most cutting-edge computer chips globally. Experts note that Samsung has a longstanding reputation for being adverse to unions and lacks experience in negotiating with its workforce.
Vladimir Tikhonov, a professor of Korean studies at the University of Oslo, commented that if the Samsung workers succeed in their efforts, it could empower labor movements throughout South Korea.