Should Excess Profits from Semiconductors Be Shared Among Workers and Companies? 14 Discussed at the Forum
The Ministry of Employment and Labor will host a forum on 7, 14 in Seoul to discuss the distribution of excess profits from semiconductor companies and the possibility of a Korean-style social solidarity wage. The government will prepare a draft to address issues and alternatives before finalizing policy.
One topic the government brought up shortly after Samsung Electronics' labor negotiations ended is how to distribute excess profits earned by semiconductor companies. This issue will be formally discussed at a forum on 7, 14. Depending on the outcomes of this meeting, the direction may be set for how labor and management share some of the corporate profits.
The event is titled 'Path to New Social Innovation in Line with AI Technology Innovation.' It is scheduled for the afternoon of 14 at Peace & Park in Yongsan-gu, Seoul.
The catalyst was a statement by Minister of Employment and Labor Kim Young-hoon. After the conclusion of the labor wage negotiations at Samsung Electronics last 5, Minister Kim proposed the discussion himself, stating that "Samsung's success is the result of the commitment of labor and management combined with efforts from the state, region, and society." This signifies the intention to explore how society can share the profits earned by companies.
What the government is attempting is a Korean-style social solidarity wage, which is a way for workers and society to share excess profits of companies. Minister Kim made it clear that this system cannot be unilaterally determined by the government since it directly involves the use of corporate profits and carries a high risk of conflict.
The discussion will proceed in this manner:
- A draft (tentative document) will be presented before finalizing the policy.
- The draft is a document that gathers opinions from experts and stakeholders.
- Policy direction will only be set after all stakeholders have provided their input.
Originally, the forum was scheduled for 6, 1. The reason for postponement is clear; there was considerable controversy over whether the government’s involvement in the use of corporate profits was appropriate, coupled with local election schedules. There was a judgment that it would be difficult to reach a conclusion all at once.
The key point at the 14 forum will be how clearly the specific methods of distributing excess profits emerge. It will also be crucial to observe how corporate pushback and labor demands collide.
Sources: 뉴시스 경제
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