Unionized workers at Samsung Electronics in South Korea have extended the company’s first-ever strike indefinitely to demand better wages and benefits. The National Samsung Electronics Union (NSEU) rallied its more than 30,000 members on Wednesday after company management showed no sign of holding negotiations with the union after the strike. a three-day strike.
As reported by ReutersThe NSEU is demanding a 3.5% increase in base pay, an extra day off to mark the union’s founding day and a fairer bonus system between managers and junior workers. Samsung, the world’s largest memory chip maker, has announced a 3.5% increase in base pay, an extra day off to mark the union’s founding day and a fairer bonus system between managers and junior workers. estimated 15x increase in operating profits for its last quarter, following a rise in semiconductor prices driven by the current AI boom.
The NSEU said its goal was to end Samsung’s chip production, Reuters The strike had already slowed production on some chip lines. Samsung, however, refutes this claim, saying the three-day strike had no impact on chip production. “Samsung Electronics will ensure that no interruptions occur on the production lines,” the company said in a statement. Reutersadding that it “remains committed to engaging in good faith negotiations with the union.”
Union officials said 6,500 workers took part in the Initial three-day strike The movement began Monday and has encouraged its remaining members, who make up nearly a quarter of Samsung Electronics’ workforce in South Korea, to join the strike. “It is time that we need the power and help of our colleagues,” Son Woo-mok, vice president of the NSEU, said in a statement. Live Stream on YouTubet. “All members who participated in the first strike (should) continue to strike.”
The strike follows a Samsung’s profits to fall sharply in 2023attributed to weakened demand for memory chips. Anything that could jeopardize the company’s recent rebound is worry enough, but given that Samsung is responsible for about 20% of South Korea’s GDP, the entire country could potentially feel the impact.
