South Korea’s Minister of Trade, Industry and Resources Kim Jung-kwan expressed concern over a potential strike at Samsung Electronics, warning that intensifying competition from China requires “mature and prudent judgment” from both management and labor.
Speaking at a press briefing on Monday, Kim said it is difficult to view Samsung’s profits as solely the result of efforts by management and workers. He stressed that the company’s success is tied to a broader ecosystem, including infrastructure, partner firms, millions of retail investors and institutional stakeholders such as the National Pension Service, which holds roughly 8 percent of the company.
“The semiconductor industry is not one where companies simply generate profits and stop,” Kim said. “It requires continuous large-scale investment, and there must be consideration of how much profit should be enjoyed now and how much should be left for future generations.”
He also highlighted structural risks in the semiconductor sector, noting that once competitiveness is lost, recovery is extremely difficult — a pattern seen in many countries.
Kim voiced particular concern that labor disputes are emerging at a time when competition with China is intensifying. “Semiconductors remain the only sector where South Korea maintains a clear competitive edge, but the gap with rivals is narrowing,” he said, urging both sides to take into account the broader national and industrial context.
Separately, Kim outlined three conditions for ending the government’s price cap on petroleum products, saying the measure was introduced as an unavoidable response to the Middle East conflict rather than a preferred policy. He cited the end of the war, conditions in the Strait of Hormuz and broader institutional reforms as key factors to consider.
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