Samsung Could Face Its First Strike in History

South Korea's largest company, Samsung, may face its first-ever strike by employees. Bloomberg reports this development.

It has been noted that the company is threatened by a strike from the local union, which already includes about 9% of Samsung Electronics employees, or around 10,000 people. The primary demand of the union is that Samsung's management does not allow representatives of employee associations to negotiate over wage increases. The union is demanding a 6% salary increase.

Employees justify this increase based on inflation, which exceeded 4% just in 2023. In response, Samsung's management is not against wage increases. However, top executives have proposed insufficient conditions. The company wants to raise the wages of top performers by 4.1% and those with average performance by 2%.

Oh Sang-Hoon, spokesperson for Samsung & Marine Insurance Co, told Bloomberg that if Samsung Electronics employees decide to strike, they will likely receive support from unions and other 11 branches of the South Korean conglomerate.

Bloomberg reports that if the strike occurs, it will not come at a good time for Samsung. Journalists believe the company is already struggling to overcome financial difficulties amid a global decline in demand for chips and electronics.