The National Samsung Electronics Union has made history by calling the first strike at the South Korean technology giant since its inception over five decades ago. The union, representing thousands of workers, has announced a one-day protest scheduled for 7 June, urging all members to use their paid leave in solidarity.
With approximately 28,000 members, the union accounts for more than a fifth of Samsung Electronics’ total workforce. The decision to strike comes after failed negotiations with the company’s management over wages. The union is demanding a 6.5% pay increase and a bonus tied to the company’s earnings.
In a live-streamed news conference, a union representative expressed, “We can’t stand persecution against labour unions anymore. We are declaring a strike in the face of the company’s neglect of labourers.” Samsung Electronics has stated that it will continue to engage in discussions with the union.
As the world’s largest producer of memory chips, smartphones, and televisions, analysts have raised concerns that a full-scale strike could disrupt the firm’s computer chip manufacturing and impact global electronics supply chains. Samsung Electronics is the flagship unit of the South Korean conglomerate Samsung Group, a prominent player in Asia’s economy.
Notably, Samsung Group only allowed unions to represent its workers in 2020, following public scrutiny after its chairman faced legal issues. The announcement of the strike has already had an impact, with Samsung Electronics’ shares trading about 2% lower in Seoul.
The situation continues to develop, with additional reporting by Jake Kwon in Seoul shedding light on the ongoing negotiations and potential implications of the strike on the tech giant and the broader industry.
