Samsung Workers' Union in South Korea Begins Three-Day Strike

The Samsung workers' union in South Korea has launched a three-day strike to address labor concerns and push for improved working conditions. This marks a significant labor action within one of the country's largest companies, aiming to highlight the need for better treatment and benefits for workers. The strike's impact on Samsung's operations and the broader implications for labor rights in South Korea are being closely watched by industry analysts and the public.

Boston Brand Media brings you the latest news - A workers' union at Samsung Electronics in South Korea plans to initiate a three-day strike starting Monday and has hinted at the possibility of further actions against the country's leading conglomerate in the future.

The National Samsung Electronics Union (NSEU), which includes roughly 28,000 members making up more than a fifth of the firm's workforce in South Korea, is calling for an improved performance-based bonus system and an additional day of annual leave for workers.

It remains uncertain how many workers will join the strike, but a union poll indicated that about 8,100 members would participate as of Monday morning.

Lee Hyun-kuk, a senior union leader, mentioned in a YouTube broadcast last week that another round of strikes could follow if the workers' demands are not addressed after the three-day strike.

The union intends to hold a rally on Monday morning near Samsung's headquarters in Hwaseong, south of Seoul.

Analysts, however, believe the strike is unlikely to significantly affect chip production, as most operations at the world's largest memory chipmaker are automated.

Boston Brand Media also found that, last month, the union conducted a walkout using annual leave, marking its first industrial action, but the company reported no impact on production or business activities at that time.

While the strike may have little impact on output, analysts note that it reflects decreased staff loyalty at one of the world's top chipmakers and smartphone manufacturers, adding another challenge for Samsung as it faces fierce competition in chips used for artificial intelligence applications.

On Friday, Samsung estimated a more than 15-fold increase in its second-quarter operating profit, driven by rebounding semiconductor prices due to the AI boom, yet its stock performance continues to lag behind South Korean chip rival SK Hynix.

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Source: Reuters‍