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Samsung Electronics Labor Union Holds Massive Rally Ahead of Wage Talks

Written: 2024-07-22 16:43:56Updated: 2024-07-22 16:45:40

Samsung Electronics Labor Union Holds Massive Rally Ahead of Wage Talks

Photo : YONHAP News

The National Samsung Electronics Union(NSEU), the labor union of South Korea's largest conglomerate, held a rally on Monday at a company facility in Yongin, Gyeonggi Province, as it entered week two of a general strike.

Around 12-hundred union members from across the country took part in the massive rally, which is being seen as an attempt to increase their bargaining power a day before the labor union and management resume wage talks.

During negotiations scheduled for Tuesday, the two sides are expected to discuss pay increases, a guaranteed day off on the union's founding day, improvement of the performance-based pay system and compensation for losses resulting from the general strike.

During previous wage talks, the management stood firm on a five-point-one percent average wage increase, which includes a three percent increase in basic pay and a two-point-one percent increase in performance pay, while the NSEU called for an average wage hike of five-point-six percent, including a three-point-five percent basic pay increase.

The two sides have been locked in negotiations since January. Samsung's largest labor union declared a strike on May 29, marking the first such action in the company's history.

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