Samsung Electronics

International Desk: Samsung Electronics One of the most popular technology giant companies is ‘Samsung Electronics’. The company was established on January 13, 1969.

A union representing thousands of workers at Samsung Electronics has called a strike for the first pay rise in 55 years. In a report on Wednesday (May 29), the British media reported the information to the BBC.

According to the report, the union has a total of 28,000 members, which is more than a fifth of the company’s total workforce.

During the press conference, a union representative said, “We cannot tolerate any more oppression against the trade union.” I have announced the strike in response to the company’s negligence towards the workers.

Since the beginning of this year, the union has held several discussions with the managing directors of Samsung Electronics regarding the salary increase. But the two sides have so far failed to reach an agreement.

The union has demanded a 6.5% pay rise and a bonus with the company’s total earnings. Meanwhile, analysts have warned that a full-scale strike could greatly affect the firm’s ‘computer chip’ production and the global electronics supply chain.

Samsung Electronics is the flagship unit of South Korea’s Samsung Group. It is the largest of the country’s family-controlled businesses and dominates Asia’s fourth-largest economy.

Notably, in 2020, Samsung Group was known for not allowing unions to represent its workers. Reason- The company was prosecuted against its chairman for market manipulation and bribery. After that, widespread irregularities and chaos came to the attention of the public.

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Meanwhile, shares of Samsung Electronics fell about 2% in the country’s capital Seoul shortly after the strike was announced.