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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle



Samsung Electronics workers strike for the first time.

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image credit: samsung union

Samsung Electronics’ South Korean labor union reported numerous workers striking Friday, the first in the company’s 55-year history.

After failed negotiations over salary and incentive arrangements, the Nationwide Samsung Electronics Union (NSEU), which represents 28,000 workers, said last week that it would strike for a day on June 7.

The union requested that its members take Friday off, between a public holiday on Thursday and the weekend.

He earlier stated that many NSEU members work for Samsung’s flagship chipmaker. The business is striving to restore its former standing as a leading semiconductor company, according to Reuters, which says Samsung has fallen behind SK Hynix and Micron Technology in AI processor chip delivery.

The one-day strike had no impact on production or management, a Samsung representative said

“Today’s annual leave use rate is lower than last year’s Memorial Day holiday,” the representative said.

The largest memory chipmaker has struggled recently. Due to the COVID-19 pandemic’s historic shortage of computer chips, consumer electronics demand decreased last year.

The company is doing well due to the AI surge.

It expects mobile device sales to rise this year, especially with the release of AI-powered smartphones.

In anticipation of increasing demand for AI and high-end chips, for which it competes with Intel and Taiwan’s TSMC, Samsung announced a more than tenfold increase in first-quarter operating profit last month.

Most modern microchips are made in Taiwan and South Korea. Taiwan’s industry is larger and more dominant, which South Korea wants to challenge.

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