International Business Weekly
  • Home
  • News
  • Politics
  • Business
  • National
  • Culture
  • Lifestyle
  • Sports
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • National
  • Culture
  • Lifestyle
  • Sports
No Result
View All Result
International Business Weekly
No Result
View All Result
Home Business

Samsung Electronics union in South Korea declares general strike

July 1, 2024
in Business
0
Samsung Electronics union in South Korea declares general strike
Share on FacebookShare on Twitter


Union membership increased rapidly after Samsung in 2020 pledged to end to its practice of discouraging the growth of organised labour

A workers’ union at Samsung Electronics in South Korea said on Monday (Jul 1) it would launch a general strike until its demands for better pay and time off were met, warning of more damaging action against the country’s most powerful conglomerate than its one-day walkout last month.

The National Samsung Electronics Union (NSEU), whose roughly 28,000 members make up over a fifth of the firm’s workforce, is asking the company for commitments such as improvements to its performance-based bonus system and an extra day of annual leave.

“We are declaring a general strike today,” Son Woo-mok, president of NSEU, said on a live YouTube broadcast. “Until our demands are met, we will fight with the ‘no pay no work’ general strike.”

Samsung Electronics did not provide an immediate comment.

Last month, the union staged a walkout by using an annual leave, its first such industrial action, but the company at the time said there was no impact on production or business activity.

As the world’s top memory chipmaker and a major global smartphone maker, Samsung Electronics’ run of success is being challenged in some areas, including in some cutting-edge chips. It recently replaced the head of its semiconductor unit to navigate what it called a “crisis” affecting the industry.

BT in your inbox

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Any larger scale or protracted industrial action would be a headache for Samsung as it scrambles to catch up with rivals making high bandwidth memory (HBM) chips used in AI applications.

Union membership increased rapidly after Samsung in 2020 pledged to end to its practice of discouraging the growth of organised labour. REUTERS



Source link

Tags: DeclaresElectronicsGeneralKoreasamsungSouthStrikeUnion
Brand Post

Brand Post

I am an editor for IBW, focusing on business and entrepreneurship. I love uncovering emerging trends and crafting stories that inspire and inform readers about innovative ventures and industry insights.

Related Posts

Aims Apac Reit to divest S million industrial property for capital recycling
Business

Aims Apac Reit to divest S$15 million industrial property for capital recycling

March 4, 2026
Bitcoin plunges as risk of prolonged Iran war weighs on crypto
Business

Bitcoin plunges as risk of prolonged Iran war weighs on crypto

March 3, 2026
Amazon to invest additional US billion in Spain for data centres and AI
Business

Amazon to invest additional US$21 billion in Spain for data centres and AI

March 2, 2026
Next Post
Tesla To Face Another Drop In Deliveries For Second Straight Quarter

Tesla To Face Another Drop In Deliveries For Second Straight Quarter

Supreme Court Rules On Trump Immunity, Delaying Trial

Supreme Court Rules On Trump Immunity, Delaying Trial

BlackRock launches stock ETF with 100% downside hedge

BlackRock launches stock ETF with 100% downside hedge

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ABOUT US

International Business Weekly is an American entertainment magazine. We cover business News & feature exclusive interviews with many notable figures

Copyright © 2026 - International Business Weekly

  • About
  • Advertise
  • Careers
  • Contact
No Result
View All Result
  • Home
  • Politics
  • News
  • Business
  • Culture
  • National
  • Sports
  • Lifestyle
  • Travel

Copyright © 2026 - International Business Weekly