Despite public criticism, Samsung's union has initiated an indefinite strike.
Kim Jisun
stockmk2020@alphabiz.co.kr | 2024-07-11 06:11:16
[Alpha Biz= Reporter Kim Jisun] Samsung Electronics' union has launched its first indefinite total strike in its history, following initial demands for a wage increase in the 5% range and aiming to disrupt production.
On the 10th day of the strike, the nationwide Samsung Electronics Labor Union declared an indefinite total strike, stating, "After confirming the company's lack of willingness to engage in dialogue following the first total strike, we declare a second indefinite total strike from the 10th onwards." Originally, the union had planned a first strike from the 8th to the 10th, followed by a second strike lasting four days from the 15th. However, they revised their plans to an indefinite strike from today onwards.
The union's final demands include guarantees such as providing one day off for union founding members, a 3.5% increase in basic wages for union members, improvements to the performance-based pay (OPI) system, and appropriate compensation for union members participating in the total strike. Essentially, the demands focus on protecting wages and compensating for economic losses due to the strike, primarily benefiting union members rather than all Samsung Electronics employees. The union comprises 31,000 members, approximately 25% of Samsung Electronics' total workforce of 125,000 employees.
In their latest proposal, the union has set the wage increase rate at 5.6%, combining a 3.5% increase in basic wages with a 2.1% increase in performance-based pay (OPI). Previously, the Samsung Electronics Labor-Management Council had agreed to a 5.1% wage increase.
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