Samsung workers strike indefinitely for better pay...

Samsung workers strike indefinitely for better pay and benefits

Zim Now Writer

In an unprecedented move, the National Samsung Electronics Union has called for an indefinite strike starting July 10th. This comes after a three-day general strike failed to produce any progress in negotiations with management over wages and benefits.

The NSEU, representing nearly a quarter of Samsung Electronics' workforce in South Korea, claims its actions have disrupted production. Samsung, however, disputes these claims and maintains its commitment to "good faith negotiations." This is the second strike organized by the NSEU this year, with the first one being a one-day walkout in June - a historic first for the company. The union is urging more of its 30,000 members to join the current indefinite strike.

Samsung, the world's largest maker of memory chips, smartphones, and televisions, is a crucial part of the South Korean economy. The company's shares remain relatively unchanged despite the strike news.

This development comes amidst booming profits for Samsung, with a 15-fold increase expected for the quarter ending June 2024 compared to the same period last year. The surge is attributed to the rise in AI technology, which has driven up demand for advanced chips.