The largest union under Samsung Electronics, the National Samsung Electronics Union, recently announced a three-day strike from July 8th to July 10th. This decision was made after the breakdown of negotiations with the management on core issues such as salary, bonuses, and working conditions, marking a further escalation of the conflict between labor and management.

It is understood that this strike is not an isolated event. As early as June 7th this year, the union organized a one-day strike, which was not only the first strike in Samsung Electronics' 55 year history, but also foreshadowed the difficulty and tension of negotiations between the two sides. Although negotiations resumed on June 13th, consensus on key issues has yet to be reached.

The National Samsung Electronics Union, as the largest among multiple unions of Samsung Electronics, has approximately 28400 members, accounting for 23% of the company's 125000 employees. Although the exact number of workers participating in the strike is still uncertain, this strike will undoubtedly have a certain impact on Samsung Electronics' production and operation, especially Samsung Electronics, which plays a crucial role in the global semiconductor supply chain, and its production interruption may trigger a chain reaction.

The demands put forward by the union mainly include higher wages, more transparent bonus distribution mechanisms, and better vacation policies. In particular, the union requires all employees to take one day off and provides significant salary increases to 855 members who have not signed the 2024 salary negotiation agreement. In addition, the union also emphasized the need to increase paid leave days and compensate for economic losses during unpaid strikes.

Since the beginning of this year, the labor and management sides have had multiple rounds of negotiations, but have not been able to reach an agreement on core issues such as salary increases, vacation systems, and bonus distribution. The firm stance of the union and the tough attitude of the management gradually intensified this contradiction, ultimately leading to the decision of this strike.

It is worth noting that Samsung Electronics, as a leading global storage chip manufacturer, its production status has a significant impact on the global semiconductor supply chain. Therefore, this strike may not only directly affect Samsung Electronics' production and operation, but also have a chain reaction on the entire industry.

Market analysts point out that although Samsung Electronics' stock price is currently largely unchanged in Seoul trading, investors still need to closely monitor the development of the situation. Once the scale or duration of the strike expands, it will have a profound impact on Samsung Electronics' stock price and industry landscape. In addition, this strike may also stimulate union activities in other key companies, and even trigger a domino effect within the industry.

Faced with this challenge, Samsung Electronics management needs to communicate and negotiate with the labor union as soon as possible to seek a solution that is acceptable to both parties. At the same time, the government and all sectors of society should also pay attention to the development of this event, actively coordinate the contradictions between the two sides, and maintain social stability and economic development.