Samsung’s biggest union just declared an indefinite strike! 

So this is the first time something like this has happened in Samsung’s 55 year history!   

What’s going on? Well, it started with 6,000 workers, mostly from the semiconductor division, who had a three-day walkout to try and get management to listen to their concerns.   

That didn’t work, so now the union is going all out.  It represents about a quarter of the workers at Samsung’s South Korea headquarters.  They have 31,000 members!

The indefinite strike began on July 10.  It followed months of failed negotiations. 

The union is demanding a significant wage increase, citing record profits and soaring inflation. They also want better working conditions, less overtime hours, a more transparent bonus system and greater job security. 

It’s like they’re saying, “Hey, we’re the ones making this company successful, but we’re not being treated well!” Samsung has responded with a statement committing to “constructive dialogue” with the union, and stating that production won’t be affected.

However, they’ve also indicated that they won’t meet the union’s demands in full. 

But the union leader, Son Woomok, is warning that getting everything back on track after a strike this big is gonna take a long time.  

The strike comes amid growing concerns about labour rights in South Korea, where workers face long hours, low pay, and limited job security.

Experts believe that the strike could have far-reaching consequences. If the workers’ demands are not met, the strike could continue for an extended period, impacting Samsung’s operations and potentially leading to a broader labour movement within Korea’s tech industry.

Samsung’s latest unveiling is its first-ever smart ring, the Galaxy Ring.  It’s a wearable device that tracks a range of health metrics, including sleep, heart rate, blood oxygen, skin temperature, and workouts. 

It was launched on July 10, the same day the strike started.

And that’s the bottom line.