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Union members chant slogans during a rally organized by the Joint Struggle Committee of the Samsung Electronics labor union in front of the company’s Pyeongtaek campus in Gyeonggi Province on April 23, 2026 (Pool Photo) |
[Alpha Biz= Lee Hyungjin] Samsung Electronics’s supra-enterprise labor union has threatened a general strike, demanding the removal of caps on bonuses and the distribution of 15% of operating profit, arguing that the company’s stellar performance is primarily driven by workers’ efforts.
Such claims, however, overlook the harsh realities of the global semiconductor market and the fundamental nature of the industry.
◇ Misconception That Labor Alone Drives Profits
The union argues that Samsung’s global success is rooted in employees’ contributions. But semiconductors are not a labor-intensive assembly industry. They are capital-intensive, technology-driven sectors where massive investments and advanced process technologies determine productivity.
Samsung’s KRW 148 trillion investment in R&D over the past five years is the core driver of its competitiveness. Labor enhances operational efficiency, but the primary engine of profit lies in strategic investment and global pricing dynamics.
◇ Questionable Legal Basis for Bonus Demands
Treating performance bonuses as guaranteed wages lacks legal grounding. South Korea’s Supreme Court has already ruled that such bonuses are not part of ordinary or average wages used in severance calculations. Bonuses are contingent distributions based on corporate performance—not fixed compensation.
Ignoring judicial precedent and threatening to halt production over bonus structures raises questions about the legitimacy of the union’s demands.
◇ Risking Competitiveness Under the Pretext of Talent Retention
The union also argues that higher bonuses are necessary to prevent talent outflows, citing employee moves to SK hynix. However, the broader industry is facing intense technological competition, with even rivals navigating critical challenges in next-generation memory development.
At such a pivotal moment, any disruption from strikes could undermine competitiveness and jeopardize leadership in high-bandwidth memory (HBM) technologies.
◇ Threats to Shareholder Value and Global Supply Chains
Semiconductor fabs are not solely workplaces—they are assets owned by millions of shareholders. With global demand for memory chips rising amid AI-driven data center expansion, any production halt could damage shareholder value and disrupt global supply chains.
A prolonged strike risks triggering bottlenecks across industries—from automotive to smartphones—ultimately eroding market trust.
In a sector defined by capital intensity, technological leadership, and global competition, labor demands detached from industry fundamentals could have far-reaching consequences.
Alphabiz 이형진 선임기자(magicbullet@alphabiz.co.kr)
