Employees of Samsung are currently on strike, advocating for improved working conditions and increased wages. Their protest, which began three weeks ago, witnessed a massive rally on Monday with approximately 1,200 members from the National Samsung Electronics Union (NSEU) marching at the Giheung campus in Yongin, South Korea.
This rally followed initial negotiations between the union and Samsung regarding wage discussions that took place last Friday. The NSEU initiated an indefinite strike on July 8, after a previous walkout did not yield the desired workplace improvements. While the union represents over 30,000 employees, the exact number currently participating in the indefinite strike remains unclear. Nonetheless, this action is noted as the largest in Samsung’s history.
Despite Samsung reporting an impressive rise in revenue—anticipated to soar more than 1,450% year-over-year due to advancements in artificial intelligence—and a ten-fold profit increase in the first quarter of 2024, striking employees claim that they have yet to see these financial gains reflected in their salaries.
The majority of those participating in the strike work at Samsung’s foundry, where they produce some of the world’s most advanced computer chips. Experts indicate that the company’s history of being unfriendly towards unions and a lack of experience in worker negotiations could further complicate the situation.
There is cautious optimism surrounding these protests. As highlighted by Vladimir Tikhonov, a professor of Korean studies, if the workers at Samsung succeed, it could empower labor movements across South Korea, potentially leading to broader positive changes in worker rights and conditions within the country.
This situation underscores the critical importance of addressing labor rights, especially in industries experiencing substantial financial growth. The possibility of positive change could foster a better relationship between corporations and their employees, promoting fairness and equity in the workplace.