Employees at Samsung are conducting a significant strike to advocate for improved working conditions and higher wages, marking its third week of organized action. On Monday, around 1,200 members of the National Samsung Electronics Union (NSEU) rallied at the Giheung campus in Yongin, South Korea, demanding fair compensation.
This strike followed initial wage negotiation discussions between the union and Samsung that took place on Friday. The NSEU initiated an indefinite strike on July 8, building upon a previous walkout that did not yield the workplace improvements sought by its members.
While the union claims to represent over 30,000 employees, the exact number participating in the current strike remains unclear. Nevertheless, this strike is noteworthy as it ranks as the largest in Samsung’s history.
Interestingly, Samsung anticipates a record-shattering second-quarter revenue increase of over 1,450% year-on-year, driven by a surge in artificial intelligence technology. Additionally, the company reported a tenfold increase in profits for the first quarter of 2024. Despite these impressive financial gains, the NSEU has pointed out that employees have not seen corresponding increases in their pay.
A significant portion of the striking workers are employed at Samsung’s foundry, where they manufacture some of the world’s most advanced computer chips. Experts have noted that Samsung has a reputation for being resistant to union activities and has limited experience in labor negotiations.
Professor Vladimir Tikhonov from the University of Oslo remarked that if Samsung employees succeed in their push for better conditions, it could embolden labor movements across South Korea.
This situation highlights the ongoing challenges that workers face in advocating for their rights, particularly in industries experiencing financial success. It also represents a growing trend where workers are increasingly willing to stand up for fair treatment, which may pave the way for broader labor reform in South Korea and beyond. Such movements can inspire change and foster a more equitable labor environment, benefiting both the employees and the companies they work for in the long run.