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Samsung Workers Begin ‘Indefinite’ Strike For Higher Pay, Benefits

nionized workers at Samsung Electronics declared an indefinite strike Wednesday, July 9, 2024, to pressure South Korea’s biggest company to accept their calls for higher pay and other benefits.

The announcement came at the end of a three-day general strike held by the NSEU.

The union, which represents nearly a quarter of Samsung Electronics’ workforce in South Korea, said the decision was made after management showed no intention of holding talks over its demands.

“Samsung Electronics will ensure no disruptions occur in the production lines. The company remains committed to engaging in good faith negotiations with the union,” the firm said in a statement.

 

However, in a statement posted on its website, the union said it has engaged in unspecified disruptions on the company’s production lines to get management to eventually come to the negotiating table if the strikes continue.

“We are confident of our victory,” the union statement said.

“The company has no intention to engage in a dialogue even after the first general strike, thus we declare a second general strike starting from July 10th, lasting indefinitely,” the NSEU stated.

 

So far, about 6,500 workers have participated in the strike, with the union urging more members to join the industrial action. 

The NSEU last month staged the first walkout at Samsung Electronics since its founding over five decades ago. 

About 30,000 Samsung workers are reportedly affiliated with the National Samsung Electronics Union, the largest at the company and some belong to other, smaller unions.

Samsung Electronics, the world’s largest maker of memory chips, smartphones, and televisions, is the flagship unit of the Samsung Group, which plays a dominant role in South Korea’s economy.

Following the NSEU’s announcement, Samsung Electronics’ shares traded about 0.5% lower on the Korea Stock Exchange. 

This development comes just a week after the company projected a 15-fold increase in profits for the second quarter of 2024, driven by a boom in artificial intelligence (AI) technology and rising prices of advanced chips.

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