President Lee Jae-myung addressed the ongoing debate over excess profit distribution among companies, including Samsung Electronics, during a press conference marking his first anniversary in office on June 8. He emphasized that this issue could have serious implications for national industrial policy and suggested that discussions should extend beyond domestic borders to encompass international trade norms.
During the press conference held at the Blue House, President Lee noted, "You may have been particularly interested in the labor-management conflict surrounding Samsung Electronics' operating profit distribution." He remarked on the evolving nature of profit-sharing discussions, stating, "In the past, when profits were high, people would ask for salary increases, but the idea of sharing operating profits was unimaginable. Isn’t that quite lively?"
He further elaborated, saying, "Excess profits involve contributions from workers, as well as returns for company investors. There are also citizens who have supported subsidies."
President Lee cautioned that if South Korea were to implement such measures unilaterally, companies might relocate to avoid social pressures related to high operating profit margins. He questioned, "If there is social pressure to allocate a portion of high operating profits, would companies hesitate to invest?"
He concluded by stating, "This is an issue that could have very serious implications for national industrial policy. It is not something that can be resolved through domestic debate alone. It will soon become a common issue globally. Therefore, discussions about how to handle excess profits must be approached with great caution."
During the press conference held at the Blue House, President Lee noted, "You may have been particularly interested in the labor-management conflict surrounding Samsung Electronics' operating profit distribution." He remarked on the evolving nature of profit-sharing discussions, stating, "In the past, when profits were high, people would ask for salary increases, but the idea of sharing operating profits was unimaginable. Isn’t that quite lively?"
He further elaborated, saying, "Excess profits involve contributions from workers, as well as returns for company investors. There are also citizens who have supported subsidies."
President Lee cautioned that if South Korea were to implement such measures unilaterally, companies might relocate to avoid social pressures related to high operating profit margins. He questioned, "If there is social pressure to allocate a portion of high operating profits, would companies hesitate to invest?"
He concluded by stating, "This is an issue that could have very serious implications for national industrial policy. It is not something that can be resolved through domestic debate alone. It will soon become a common issue globally. Therefore, discussions about how to handle excess profits must be approached with great caution."
* This article has been translated by AI.
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