"Give us 1,000 shares of treasury stock"... Samsung Electronics DX Union announces indefinite rally in front of Chairman Lee Jae-yong's residence

[Financial News] The Donghaeng Labor Union, composed mainly of employees from Samsung Electronics Co., Ltd.'s Device eXperience (DX) Division, will begin an indefinite rally in front of the residence of Samsung Electronics Co., Ltd. Chairman Lee Jae-yong starting on the 18th. They are demanding additional compensation, taking issue with the compensation gap between this division and the Device Solutions Division (DS Division), which is responsible for semiconductors.
According to industry sources on the 5th, the Donghaeng Union will hold rallies and one-person protests near Chairman Lee's residence in Yongsan District, Seoul, starting with an inauguration ceremony on the 18th. No specific end date has been set.
The Donghaeng Union is demanding the distribution of 1,000 shares of company stock per employee, the establishment and distribution of common funds based on company-wide performance standards, and the uniform application of base-up wage increases across all business divisions. The union argues that the DX Division was excluded during the wage negotiations last May and that the compensation gap with the DS Division is excessively large.
Previously, on the 21st of last month, the Donghaeng Union held a rally near Samsung Town Headquarters Seocho, characterizing the deterioration in profitability of the DX Division as a management failure and urging the company to reflect employee demands.
However, the business community points out that the likelihood of the union's demands being realized is low. They argue that providing additional treasury shares could place a significant burden on the company given the deteriorating profitability of the DX Division.
Furthermore, controversy surrounding the principles of labor-management negotiations is expected to be inevitable as they stage a prolonged protest in front of Chairman Lee's residence demanding additional compensation, despite the fact that this year's wage negotiations have already been settled through government mediation.

[email protected] Seong Min-seo Reporter