Samsung Electronics, a South Korean technology giant and a major producer of memory chips used in various technologies including artificial intelligence, is facing a strike for the first time in its history. This comes after negotiations with its largest union, representing around 28,000 employees, failed to reach an agreement on wages. The union is demanding fair compensation for its staff rather than the proposed 1 to 2 percent increase.
The success of Samsung’s semiconductors has led to a nearly tenfold increase in operating profit in the first quarter of this year. South Korea is home to some of the largest microchip producers in the world, with companies like Samsung and SK Hynix leading the industry. The country exported $11.7 billion worth of chips in March, accounting for about one-fifth of South Korea’s total exports.
The growing demand for powerful chips with high computing power, driven by the rise of artificial intelligence, has put pressure on companies like Samsung to meet these technological requirements. This has also led to an increased need for skilled labor and fair compensation for employees in the tech industry. The strike at Samsung highlights the importance of fair wages and working conditions in the fast-paced world of technology.
