Kim Yong-beom, Deputy Minister for Policy at Cheong Wa Dae, on the 24th addressed the record operating profits of Samsung Electronics and SK hynix amid the semiconductor boom, saying, "Labor-management disputes are originally based on wages," and added, "We need a serious social discussion on whether (operating profits) become a subject of dispute."
Deputy Minister Kim responded this way when asked at a Kwanhun Club discussion on government-level measures regarding the "special performance bonuses" at Samsung Electronics and SK hynix. Kim said, "The operating profit margin of 70% from SK hynix and around 45% from Samsung Electronics are margins once seen only at Silicon Valley companies with workforces in the hundreds," adding, "Such operating profit margins have appeared at corporations with the appearance of manufacturing and workforces in the tens of thousands."
◇"Investors also accept the risk of losses…" ministries remain far apart
The issue has surged to the top of the political agenda as corporations' excess profits from the semiconductor boom have become entangled with the recent Samsung Electronics situation. Even within the government, opinions differ on whether operating profit–based bonuses become a "subject of dispute." Recently, Industry Minister Kim Jung-kwan, a former business executive, noted, "When it comes to operating profits, it is not just management and unions; there are also investors who entered accepting the risk of losses," expressing the view that it should not be a subject of dispute.
By contrast, Kim Young-hoon, Minister of Employment and Labor (MOEL), said society should discuss ways to use large corporations' excess profits and said he would hold a forum.
Deputy Minister Kim said, "This is the first time operating profit has been made the subject of labor-management bargaining," adding, "How special a case are we looking at? We now need to create new rules and start by discussing whether (operating profit becomes the subject of collective bargaining)." Regarding the industry minister's comments, Kim said, "What happened last time (the Samsung Electronics labor-management conflict) is unlikely to become a routine subject of dispute," adding, "If necessary, we should make it clear legally as well. The president and Minister Kim think the same."
He continued, "This should not be seen as a disagreement among ministries. Since industry and labor will join, the two ministers should debate intensively," adding, "The intent is for each ministry's minister to actively present their stance on specific topics. Policy is something the president ultimately hears and decides, and since this proceeds into the National Assembly's legislative process, much research is needed."