Workers at Samsung Electronics are currently escalating their demands for improved working conditions and wage increases through a significant rally in South Korea, marking the third week of their strike. Approximately 1,200 members of the National Samsung Electronics Union (NSEU) participated in the demonstration, walking through the company’s Giheung campus in Yongin.
The rally comes on the heels of initial wage negotiation talks between the union and Samsung, held recently. The NSEU had previously declared an indefinite strike on July 8 after earlier negotiations failed to lead to meaningful improvements for its members, who number over 30,000.
While the exact number of workers participating in the current indefinite strike is unclear, this momentous action is being noted as the largest in Samsung’s history. It takes place against a backdrop of significant profits for the company, which is anticipating a staggering 1,450% increase in second-quarter revenue year-over-year attributed to advancements in AI technology. Samsung also reported an impressive tenfold profit increase in the first quarter of 2024. However, the NSEU asserts that employees have yet to see any corresponding wage increases despite these extraordinary financial results.
A notable portion of the striking workers are employed at Samsung’s foundry, where some of the world’s most advanced computer chips are manufactured. Historically, Samsung has held a reputation for being resistant to unionization and lacks experience in negotiating with its workforce.
Experts are watching this situation closely, as success for Samsung workers could have broader implications for labor movements within South Korea. “If Samsung workers succeed in this undertaking, it will empower the rest of South Korea’s labor,” noted Vladimir Tikhonov, a Korean studies professor at the University of Oslo.
This labor action reflects a growing awareness among workers in high-tech industries regarding their rights to fair compensation and safe working conditions. As the situation unfolds, it could inspire similar movements across various sectors, fostering a more equitable labor environment that thrives on collaboration between workers and management.