Samsung Electronics is going through its first-ever strike as a brand, called by a union representing a worthy portion of its workforce.
The National Samsung Electronics Union says it will hold a one-day protest by asking all of its members to use their paid leave on June 7 and has not ruled out a full-scale strike in the future regarding this protest. The union says it has approximately 28 thousand members, accounting for more than a fifth of the company’s total workforce.
The Korean Electronics firm announced that it would continue to negotiate with the union. Meanwhile, a union representative stated during a live-streamed news conference, “We can’t stand persecution against labor unions anymore. We are declaring a strike in the face of the company’s neglect of laborers.”
The planned air attack stems from Samsung Electronics and the Union. Talks have been happening since the beginning of 2024 but have not yet been reached. Rumors have been happening since early this year, but they’ve reached an agreement. The union has demanded a 6.5% pay raise and a bonus pegged to the company’s earnings.
According to analysts, a full-scale strike could affect the brand’s computer chip manufacturing and impact the global supply chains of electronics. Samsung Electronics is the high-end unit of the South Korean conglomerate Samsung Group. Transparently, it is the country’s biggest family-controlled businesses that dominate Asia’s fourth-largest economy. Samsung is also well-known for not permitting unions to represent its workers until 2020, when the brand came under intense public scrutiny after its chairman was prosecuted for market manipulation and bribery. However, after the announcement, Samsung Electronics shares were trading about 2% lower in Seoul.
