Government to Promote Public Discussion on Distribution of Semiconductor Excess Profits

The government plans to begin fullscale discussions next month on how to socially distribute the excess profits generated by the semiconductor boom. The Ministry of Employment and Labor plans to hold a related forum in July to address both the distribution of semiconductor excess profits and the issue of labor transition in the age of AI. This discussion originally began with the performance bonus conflict between Samsung Electronics management and labor, but recently it has expanded in the direction of broadly reviewing how the profits of large corporations can be returned to subcontract workers, partner companies, the public sector, and the public. The government is also expected to examine various measures such as a social solidarity wage, a national dividend, and a sovereign wealth fund. The ministry plans to carry out the discussions through a form of social dialogue that gathers opinions from labor and management, companies, experts, and relevant ministries. It is also reviewing ways to reflect the outcome in industrial transition and employment stability policies through a draft and final report that summarize the issues and alternatives.