[South Korea] Samsung union members go on indefinite strike

In South Korea, a union representing workers at Samsung Electronics has called on its membership of around 30,000 workers to go on strike indefinitely, as part of efforts to gain better pay and benefits, BBC News reports.

The announcement was made on the final day of a three-day general strike held by the National Samsung Electronics Union (NSEU). The union said it had reached the decision after management showed no intention of holding talks about its demands.

The NSEU reportedly represents nearly a quarter of Samsung Electronics' workers in the country, it said its actions had disrupted production. The South Korean technology giant disputed these claims.

 The company told BBC News, "Samsung Electronics will ensure no disruptions occur in the production lines. The company remains committed to engaging in good faith negotiations with the union.”

The union responded, "The company has no intention to engage in a dialogue even after the first general strike, thus we declare a second general strike starting from July 10th, lasting indefinitely."

According to the NSEU, about 6,500 workers have been taking part in the strike so far and it called on more of its members to join the industrial action.

A spokesperson for Samsung Electronics declined to say how many workers joined the walkout but a July 8 protest was attended by around 3,000 people.

"In our view, there will be no production disruption," Jung In Yun - from Fibonacci Asset Management Global - told BBC News.

In June, the union staged the first walkout at the company since it was founded five and a half decades ago.

Earlier this month, Samsung Electronics said it expects its profits for the three months to June 2024 to jump 15-fold compared to the same period last year.

A boom in AI tech has reportedly elevated the prices of advanced chips, driving up the firm's forecast for the second quarter.

Source: BBC News

(Links and quotes via original reporting)

In South Korea, a union representing workers at Samsung Electronics has called on its membership of around 30,000 workers to go on strike indefinitely, as part of efforts to gain better pay and benefits, BBC News reports.

The announcement was made on the final day of a three-day general strike held by the National Samsung Electronics Union (NSEU). The union said it had reached the decision after management showed no intention of holding talks about its demands.

The NSEU reportedly represents nearly a quarter of Samsung Electronics' workers in the country, it said its actions had disrupted production. The South Korean technology giant disputed these claims.

 The company told BBC News, "Samsung Electronics will ensure no disruptions occur in the production lines. The company remains committed to engaging in good faith negotiations with the union.”

The union responded, "The company has no intention to engage in a dialogue even after the first general strike, thus we declare a second general strike starting from July 10th, lasting indefinitely."

According to the NSEU, about 6,500 workers have been taking part in the strike so far and it called on more of its members to join the industrial action.

A spokesperson for Samsung Electronics declined to say how many workers joined the walkout but a July 8 protest was attended by around 3,000 people.

"In our view, there will be no production disruption," Jung In Yun - from Fibonacci Asset Management Global - told BBC News.

In June, the union staged the first walkout at the company since it was founded five and a half decades ago.

Earlier this month, Samsung Electronics said it expects its profits for the three months to June 2024 to jump 15-fold compared to the same period last year.

A boom in AI tech has reportedly elevated the prices of advanced chips, driving up the firm's forecast for the second quarter.

Source: BBC News

(Links and quotes via original reporting)