Employees at Samsung are making their voices heard as they continue their strike for improved working conditions and pay, which has entered its third week. On Monday, approximately 1,200 members of the National Samsung Electronics Union (NSEU) gathered for a significant rally, marching through the Giheung campus in Yongin, South Korea.
This demonstration followed preliminary wage negotiations between the union and Samsung, which took place last Friday. The NSEU initiated an indefinite strike on July 8 after an earlier walkout did not yield substantial results regarding the improvements sought by its members.
While the union represents over 30,000 employees, the exact number participating in the indefinite strike remains unclear. Nonetheless, this strike is noted as the largest in Samsung’s history.
Despite Samsung’s projection of a staggering 1,450% revenue increase in the second quarter, fueled by an AI boom, and a tenfold rise in profits for the first quarter of 2024, many workers assert they are not reaping the benefits of these financial successes. Many strikers are involved in the company’s foundry, where they produce some of the world’s most advanced computer chips.
Experts have pointed out that Samsung has historically been 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, a successful strike could serve as a catalyst for empowering other labor movements in South Korea.
This situation reflects a growing awareness among workers regarding their rights and the need for fair compensation in the face of corporate success. The possibility of these negotiations leading to improved labor conditions successfully could foster greater union solidarity throughout the region.
In summary, the ongoing strike at Samsung highlights critical labor issues, emphasizing the importance of fair wages and conditions for workers, even amidst significant corporate profits. This movement could potentially inspire broader labor activism in South Korea’s economy.