Employees at Samsung are continuing their strike for improved working conditions and better wages, as they held a significant rally in South Korea on Monday, marking the third week of their action.
Around 1,200 members of the National Samsung Electronics Union (NSEU) participated in a rally and march at the Giheung campus in Yongin, as reported.
This rally followed initial wage negotiation discussions between the union and the company last Friday. The NSEU announced an indefinite strike on July 8 after a previous attempt to secure workplace improvements was unsuccessful.
While the union has more than 30,000 members, it’s unclear how many are currently participating in the indefinite strike. Nonetheless, this ongoing action is noted as the largest in Samsung’s history.
Samsung is anticipating a dramatic increase in its second-quarter revenue, projecting a rise of over 1,450% year-on-year, driven by advancements in artificial intelligence. Additionally, the company reported a tenfold increase in profits for the first quarter of 2024. However, the NSEU asserts that employees have not seen corresponding wage increases despite these record profits.
Many of the striking workers are employed in Samsung’s foundry, where they produce some of the world’s most advanced computer chips.
Experts highlight that Samsung has a history of being resistant to unionization and lacks experience in negotiating with its workforce. According to Vladimir Tikhonov, a professor of Korean studies at the University of Oslo, if Samsung workers successfully achieve their goals, it could strengthen labor movements throughout South Korea.