Samsung Electronics Union Makes History with First-Ever Strike after 55 Years

Money | July 8, 2024, 8:43 p.m.

The largest labor union at Samsung Electronics began a three-day strike demanding higher wages and increased incentives. This historic walkout by the National Samsung Electronics Union (NSEU) saw around 4,000 members gather to protest at the company's Hwaseong Campus. Despite expectations that the strike would not significantly impact operations, the union reported over 6,500 members ready to participate, with potential disruptions in manufacturing looming. The NSEU has been in negotiations with management since January but reached an impasse, leading to the strike. Their demands include a higher wage increase, better paid leave policies, and improved incentive structures across all divisions. The union, representing 30,000 employees, threatens further walkouts unless their demands are met. The strike at Samsung Electronics marks a significant moment in the company's 55-year history, with potential ripple effects in the tech industry.