Workers from the National Samsung Electronics Union (NSEU) in South Korea staged a large rally on Monday as their strike for better working conditions and improved wages continues into its third week. Approximately 1,200 employees gathered and marched at the Giheung campus in Yongin, according to reports.
This rally follows initial wage negotiation discussions between the union and Samsung that took place last Friday. The NSEU had declared an indefinite strike on July 8 after a previous walkout did not achieve the workplace improvements its members are seeking.
While the union represents over 30,000 employees, it remains unclear how many workers are participating in the indefinite strike. Nevertheless, it has been noted as the largest strike in the history of the technology giant.
Samsung anticipates a substantial increase in its second-quarter revenue, projecting a growth of over 1,450% compared to the previous year, driven by a surge in artificial intelligence. Additionally, the company reported a tenfold increase in profits for the first quarter of 2024. However, the NSEU argues that employees are not benefiting from these record profits with corresponding wage increases.
Many of the striking workers are employed in Samsung’s foundry, which produces some of the world’s most advanced computer chips. Analysts also highlight that Samsung has a reputation for being hostile to unions and lacks experience in negotiating with its workforce.
Experts believe that if Samsung workers succeed in their strike efforts, it could have a positive impact on labor movements across South Korea, according to Vladimir Tikhonov, a professor of Korean studies at the University of Oslo.