Employees of Samsung Electronics, engaged in a strike for improved working conditions and increased wages, gathered in significant numbers for a rally in South Korea on Monday, marking the third week of their actions.
Approximately 1,200 members of the National Samsung Electronics Union (NSEU) participated in the rally, marching through the Giheung campus in Yongin, as reported by the Associated Press. This demonstration follows initial wage negotiations between the union and the company that took place on Friday, according to Bloomberg.
The NSEU declared an indefinite strike on July 8 after a previous walkout did not lead to the workplace improvements its members are seeking. While the union represents over 30,000 employees, the exact number of those on indefinite strike remains unspecified. This current strike is recognized as the largest labor action in the history of the technology giant.
Samsung is projected to see its second-quarter revenue soar by more than 1,450% year-over-year, driven by a surge in AI technology. The company has also announced a tenfold increase in profits for the first quarter of 2024. However, the NSEU contends that employees have not experienced commensurate wage increases despite the company’s record financial performance.
Many of the striking workers are employed at Samsung’s foundries, which produce some of the most advanced computer chips globally. Experts indicate that Samsung has a long-standing adversarial stance towards unions and lacks experience in negotiating with its workforce.
Professor Vladimir Tikhonov, a Korean studies expert at the University of Oslo, commented that if Samsung workers achieve success in their efforts, it could significantly empower labor movements across South Korea.