On July 8, 2024, members of the national Samsung Electronics union held a rally outside the company’s foundry and semiconductor factory in Hwaseong to begin a three-day general strike.
Jung Yeon-je | AFP | Getty Images
Workers at South Korean tech giant Samsung Electronics will extend an unprecedented wage and benefits strike “indefinitely,” the company’s union said in a statement. statement Wednesday.
this union demands These include a 3.5% increase in members’ basic pay, increased pay transparency and compensation for financial losses suffered by members participating in strikes.
According to reports, the national Samsung Electronics union, which has about 30,000 members, began a three-day general strike on Monday after the two sides failed to reach an agreement on wage increases, vacation systems and bonuses after multiple rounds of discussions. local media reports.
this It’s the first strike According to local media reports, Samsung Electronics has been dominated by labor unions throughout its 55-year history.
“Don’t get tired,” the NSEU statement read, according to Google Translate.
The union urged its members: “There is an absolute ban on going to work until administrative instructions are issued.”
Samsung told local media On Tuesday, chip production was not disrupted during the first two days of the strike, and on Wednesday it said it would “ensure no disruptions to production lines” as the strike was extended.
Samsung said: “The company remains committed to negotiating in good faith with the union.”
The NSEU extended the strike and said Samsung management was not keen on discussions and claimed the strike disrupted chip production.
Samsung Electronics is the world’s largest maker of memory chips, which are commonly used in consumer devices such as smartphones and laptops.
Samsung Electronics shares fell 0.34% on Wednesday morning.
In addition, Korean car manufacturers Hyundai Motor and its union reached a tentative wage deal on Monday, averting a strike planned for Wednesday and Thursday. Local news agency Yonhap reported.
The agreement includes a monthly base salary increase of 111,200 won ($81), as well as bonuses and company stock.
–CNBC’s Lim Hui Jie contributed to this report.
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