HomeNewsTechnologySamsung Electronics union goes on indefinite strike

Samsung Electronics union goes on indefinite strike

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A union representing employees at South Korean expertise big Samsung Electronics has referred to as on its roughly 30,000 members to go on strike indefinitely, as a part of its marketing campaign for higher pay and advantages.The announcement got here on the final day of a three-day common strike being held by the Nationwide Samsung Electronics Union (NSEU).The union stated it had made the choice after administration confirmed no intention of holding talks over its calls for.The NSEU, which represents almost 1 / 4 of Samsung Electronics’ employees in South Korea, stated its actions had disrupted manufacturing. Nonetheless, Samsung has disputed this declare.”Samsung Electronics will guarantee no disruptions happen within the manufacturing traces. The corporate stays dedicated to partaking in good religion negotiations with the union,” the agency advised BBC Information.On its half the union stated: “The corporate has no intention to have interaction in a dialogue even after the primary common strike, thus we declare a second common strike ranging from July tenth, lasting indefinitely.””In our view, there will likely be no manufacturing disruption,” Jung In Yun, from Fibonacci Asset Administration International advised BBC Information.Final month, the union staged the primary stroll out on the firm because it was based 5 and a half many years in the past.Samsung Electronics is the world’s largest maker of reminiscence chips, smartphones and televisions.It’s the flagship unit of South Korean conglomerate Samsung Group.The agency can be the most important of the nation’s family-controlled companies that dominate Asia’s fourth-largest financial system.Samsung Group was recognized for not permitting unions to characterize its employees till 2020 when the corporate got here below intense public scrutiny after its chairman was prosecuted for market manipulation and bribery.After the NSEU announcement, the corporate’s shares had been buying and selling flat to just a little decrease on the Korea Inventory Trade.Final week, Samsung Electronics stated it expects its earnings for the three months to June 2024 to leap 15-fold in comparison with the identical interval final 12 months.A growth in synthetic intelligence (AI) expertise has lifted the costs of superior chips, driving up the agency’s forecast for the second quarter.

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