President Lee Jae-myung on the 20th said, "It is fine for some labor unions to engage in collective bargaining through the right to organize and the right to take collective action and to try to push through their interests, but there is also a reasonable line," adding, "It is investors and shareholders who receive a distribution of profits from operating profit." The message came the same day the Samsung Electronics union said it would proceed with a general strike as planned after post-mediation at the National Labor Relations Commission fell through.
In the Cabinet meeting that afternoon, Lee said, "Multiple stakeholders are involved in corporations. It is fundamental that investors who bear risks and losses naturally have the authority to share in profits, and fair compensation for labor must be guaranteed for labor," adding, "Creditors must of course be able to recover their claims, and the related corporate ecosystem must also be protected. No one should unilaterally cross the line."
Lee said, "Even the government contributes to the growth and development of certain corporations. It provides tax breaks or facility support, and offers support through various institutional improvements or diplomatic efforts," adding, "These are what can be called the common share of the public, and taking a set percentage of operating profit institutionally before even paying taxes is something even investors cannot do."
The Samsung Electronics union is currently demanding that 15% of operating profit be used as the performance bonus pool and that the cap set at 50% of annual salary be removed. The general strike the union has announced is scheduled from the 21st to July 7.
Regarding this, Lee said, "Don't investors also receive dividends from net income after taxes? I find it a bit hard to understand," adding, "Society's members must be able to exercise their rights and expression freely within a reasonable line, and when that line is crossed, the government's major role is to fulfill the responsibilities given for the good of the entire community." He continued, "Pursuing personal gain is important, but we also need to reflect on the solidarity and sense of responsibility that exist behind it," and "Rights always come with duties, and authority comes with responsibility."
He also said, "The three labor rights are meant to protect workers, who are socially vulnerable, and a very important principle of solidarity and responsibility operates there," adding, "It is good that some labor unions are trying to push through their interests through the right to organize and the right to take collective action, but I think there is also a reasonable line." He did not mention a specific corporation, but the remarks pointed to the Samsung Electronics union, which, while receiving relatively high annual salaries and performance bonuses, is demanding a distribution of operating profit.