Employees of Samsung, seeking improved working conditions and higher wages, organized a large rally in South Korea on Monday, marking the continuation of their strike into its third week. Approximately 1,200 members of the National Samsung Electronics Union (NSEU) gathered to march through 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 NSEU declared an indefinite strike on July 8 after a previous walkout did not yield the sought-after workplace improvements.
While the union represents over 30,000 employees, the exact number participating in the indefinite strike remains unclear. Nonetheless, this strike is noted to be the largest in the history of the technology giant.
Samsung anticipates a significant revenue increase of more than 1,450% year-over-year for the second quarter, driven largely by an AI boom. Additionally, the company reported a tenfold increase in profits during the first quarter of 2024. However, the NSEU has stated that workers are not benefiting from these record profits with corresponding wage increases.
Many of the striking workers are employed at Samsung’s foundry, where they manufacture some of the world’s most advanced computer chips, as noted by AFP.
Furthermore, experts point out that Samsung is known for its adversarial stance towards unions and lacks experience in effectively negotiating with its employees. According to Vladimir Tikhonov, a professor of Korean studies at the University of Oslo, if Samsung workers successfully achieve their goals, it could motivate labor movements across South Korea.