On June 7, 2024, the Nationwide Samsung Electronics Union (NSEU) in South Korea initiated their first strike in the company’s 55-year history, highlighting disputes over pay and bonus negotiations. Despite the walkout, Samsung reported no disruption in production, indicating ongoing challenges amidst hopes for recovery and future growth in the semiconductor industry.
On June 7, 2024, members of the Nationwide Samsung Electronics Union (NSEU) in South Korea staged their first-ever strike in the company’s 55-year history. This action followed unsuccessful negotiations over pay and bonus arrangements. The union, representing 28,000 workers, nearly a quarter of Samsung’s domestic workforce, decided to take a day off, strategically positioned between a public holiday and the weekend.
The NSEU’s members, many of whom are employed in Samsung’s semiconductor unit, utilized their annual leave for the strike. Son Woomok, a union leader, noted that at some sites, the entire workforce took leave, necessitating the deployment of replacement personnel. Despite this, a Samsung spokesperson stated that the walkout had no effect on production and management activities.
Samsung Electronics has experienced significant challenges over recent years, including a global semiconductor shortage during the COVID-19 pandemic and subsequent declines in consumer demand. However, the company remains hopeful about a recovery, driven by the burgeoning demand for AI technologies and the introduction of AI-powered smartphones. Samsung reported a substantial rise in first-quarter operating profit, fueled by optimism in the high-end chip market where it competes with Intel and Taiwan’s TSMC.
As the leading memory chipmaker and a pivotal player in the global semiconductor industry, Samsung continues to look towards future growth amid increasing competition.
