Samsung Electronics workers’ union declared a strike on Wednesday, marking the first such action in the company’s history since its founding in 1969. The union, which represents approximately 22% of Samsung’s 125,000 employees, cited management’s “disregard for workers” during wage negotiations as the reason for the strike.

As an initial step, the union has instructed its members to exhaust their annual leave on June 7 and plans to hold a sit-in protest in front of the company’s Seocho office. The union stated that it remains open to resuming negotiations with management, although no discussions have taken place yet. The strike declaration comes as Samsung Electronics faces challenges in the high-demand High Bandwidth Memory (HBM) market and works to overcome a crisis in its semiconductor business.