Samsung employees have been actively striking for improved working conditions and higher wages, culminating in a large rally held on Monday in South Korea. This concerted effort by the National Samsung Electronics Union (NSEU) has now entered its third week.
Approximately 1,200 protesters gathered and marched at the Giheung campus in Yongin, highlighting their demands for better compensation and benefits. The rally followed initial wage negotiations between the union and Samsung that took place last Friday.
The NSEU had previously announced an indefinite strike on July 8 after earlier attempts to secure workplace improvements fell short. Although the union represents over 30,000 members, the exact number participating in the ongoing strike remains unspecified, making this event the largest strike within Samsung’s history.
Samsung is experiencing a remarkable financial surge, forecasting a staggering 1,450% increase in second-quarter revenue, fueled in part by advancements in artificial intelligence. The company also reported a tenfold increase in profits during the first quarter of 2024. Despite these significant financial gains, the NSEU argues that employees have yet to see their wages increase accordingly.
Many of the striking workers are employed in Samsung’s foundries, known for manufacturing some of the most advanced computer chips globally. Industry experts note that Samsung has a complex history with labor unions and lacks a strong foundation in negotiating with its workforce.
Experts, such as Vladimir Tikhonov, a professor of Korean studies, believe that a successful outcome for Samsung’s workers could positively influence labor movements across South Korea, potentially ushering in a new era of empowerment for workers in the region.
This moment could represent a turning point for labor rights in South Korea’s tech industry, and there is hope that the actions taken by Samsung’s employees today may inspire further progress and change for workers’ rights and conditions in the future.