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Labor Minister Kim Young-hoon renewed calls for a public debate over excess profits after Samsung Electronics and its union reached a 2026 wage agreement. He argued that excess profits generated during the AI transition and disputes over bonus distribution should be addressed through social dialogue among labor and management, between prime contractors and subcontractors, and with shareholders.
On the 28th, Kim wrote on his Facebook page that \”the AI-driven transformation has prompted a wide range of concerns — fairness in bonus distribution, conflicts between labor and management, disputes among different unions, and risks to capital markets — all centered on profits that exceed traditional norms.\”
He added, \”That reflects strong public interest, and at its core it’s an urgent question about how we can prosper together. I believe the solution lies in social dialogue.\”
Kim was also careful to reject criticism that his proposed \”Emergency Forum for Social Dialogue on Excess Profits\” was intended to seize corporate earnings. \”Some speculate the government wants to take large companies’ profits and redistribute them, but that misunderstands the government’s concerns and the purpose of social dialogue,\” he said. \”The government neither has the authority nor any intention to forcibly interfere with firms’ legitimate profits.\”
\”The goal is to listen to a range of public voices, find common ground on the issues, and work together to identify solutions through the power of social dialogue,\” he said.
Kim emphasized that the public does not want to stand by as gaps among workers widen and called for cooperation between contractors and subcontractors. \”Now is the time for labor, management and government to pool their wisdom to build a society where both tiers can grow together,\” he said.
He added, \”No company can operate without workers, and unions were not created to make companies fail. Ultimately, we have to live together.\”
Reporter Kwon Gi-baek baeking@viva100.com
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