In South Korea, the workers union of electronics giant Samsung Corporation, the National Samsung Electronics Union, has announced an indefinite strike due to stalled negotiations over workers’ pay and wages.
Over 5,000 workers, united in their cause, stopped working on Monday in a massive show of strength to compel Samsung Electronics management to listen to their demands. The strike is the biggest industrial action against Samsung, following a one-day walkout in June.
Demands from the union include a 5.6% pay raise for all members, transparent performance-based bonuses, compensation for financial losses incurred due to the strike, and a guaranteed day off on the union’s founding day.
These demands have been the focus of a heated battle between the group and management since January.
The company is known for its history of non-unionization due to what might be termed “ferocious tactics“”‘ by critics involving mass redundancies and other measures.
However, one expert predicts that the action will not impact the company’s profit margin, as most processes are automated and require little workforce.
Last year, Samsung generated over $194 billion in revenue, making it one of the world’s largest companies.
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