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Samsung workers extend strike “indefinitely”

Samsung workers extend strike “indefinitely”



<p>JUNG YEON-JE / AFP via Getty Images</p>
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JUNG YEON-JE / AFP via Getty Images

Key finding

  • The National Samsung Electronics Union has extended its three-day strike “indefinitely,” it said on Wednesday.

  • The group, which has 30,000 members, is calling for a 3.5 percent wage increase and more transparency in salaries.

  • Samsung management insists there were no disruptions in chip production, which the union reportedly denies.

Samsung Electronics workers in South Korea have extended an ongoing strike “indefinitely,” according to a union statement released Wednesday.

The National Samsung Electronics Union (NSEU), which represents around 30,000 members, initiated a three-day work stoppage on Monday after the two parties failed to agree on wage increases, bonuses and vacation following several rounds of negotiations. CNBC reported. The group’s specific demands include a 3.5 percent wage increase and more transparency regarding salaries.

“Don’t get tired”

The union’s statement, written in Korean, contained a clear message to its members, according to a translation: “Do not grow weary.” The strike is the first in Samsung’s 55-year history. CNBC reported.

The NSEU has said the strike has disrupted chip production, a fact Samsung management denies. The world’s largest smartphone vendor told local media that there were no disruptions during the first two days of the strike, adding on Wednesday that it would “ensure that there are no disruptions to production lines during the duration of the strike.” CNBC reported.

Read the original article on Investopedia.