Samsung employees announce indefinite strike 21:39

The Samsung Electronics union, which employs more than 30,000 people, has announced an indefinite strike that could disrupt the work of the world’s largest memory chip manufacturer. reports Bloomberg.

The union’s call for a general strike signals a growing rift with management at South Korea’s largest company. The strike was initially supposed to last three days to demand higher wages. It is the largest such action in the South Korean conglomerate’s half-century history. It is not clear how many people will respond to the union’s call, but there are fears the protests will grow, hurting Samsung and prompting similar action at other companies.

Samsung shares, which had previously risen, fell 0.3%, while the company’s suppliers such as Wonik IPS, TES and Soulbrain Holdings also fell.

Despite the high level of automation in production, Samsung cannot afford a worker strike as it tries to persuade Nvidia to buy HBM memory to catch up with its already established rival SK Hynix in this field.

Samsung currently has about 20% of the global DRAM chip market and about 40% of the NAND chip market. Investors remain calm and are more interested in the possibility of a HBM deal with Nvidia than the threat of a strike. However, the disruption in production could push chip prices higher.

In early June, Samsung workers held their first one-day strike in the company’s 55-year existence, but subsequent negotiations over wage increases failed. Union leaders said more than 6,500 people had signed up to take part in the three-day strike.

Previously reportedThe new Samsung Galaxy Z Fold 6 is priced at 230 thousand rubles in Russia.

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Source: Gazeta


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