Photo : YONHAP News
South Korean Labor Minister Kim Young-hoon has reportedly urged the country’s major tech firms to share their profit, warning that unprecedented gains in the chip sector stemming from the AI boom may widen inequality.
During an interview with Reuters, Kim said companies like Samsung Electronics, which exceed their profit targets, should consider distributing some of their excess gains to the suppliers, subcontractors and workers who contribute to their success.
The former labor activist clarified that he does not support communism but rather advocates for reinvestment.
Kim also expounded on the need for public dialogue on how to address surplus corporate profit and explore ways to share it, suggesting that adjustments to supplier prices may be a solution.
The minister played a crucial role in brokering a last-minute pay deal between Samsung and its union late last month, which helped avert a major strike and provided significant bonuses to workers in Samsung’s chip division.