Lee Jae-myung, leader of the main opposition Democratic Party (DPK), met with Samsung Electronics Chairman Lee Jae-yong on March 20, declaring, “A strong economy relies on strong businesses” and stressing the need to enhance global competitiveness. Few would disagree. Yet, the DPK’s actions in the National Assembly tell a different story—one that prioritizes legislative roadblocks over corporate growth.
Take the semiconductor industry. Samsung Electronics and other chipmakers have urged the government to allow exceptions to the 52-hour workweek rule for research and development. The DPK, siding with labor unions, has flatly refused. Meanwhile, competitors in China and Taiwan are pressing ahead with non-stop R&D. Under such constraints, how can South Korea’s semiconductor firms hope to compete?
A compromise was on the table: a three-year trial period for the exemption, with the option to repeal it if labor concerns proved valid. But Lee rejected it outright, prioritizing union votes over industrial competitiveness. Samsung’s semiconductor chief, Jun Young-hyun, underscored the urgency. “We are facing a crisis of survival,” he told shareholders on March 19. Against this backdrop, how can Lee stand before Samsung and talk about global competitiveness?
The contradiction extends beyond semiconductors. On March 13, the DPK unilaterally pushed through a commercial law amendment that businesses strongly opposed, warning of heightened legal uncertainty. While lawmakers do not need to cater solely to corporate interests, ignoring them entirely invites economic repercussions.
Then there’s the issue of inheritance tax. Businesses argue that excessive taxation makes succession planning nearly impossible, yet the DPK dismisses these concerns as mere “tax cuts for the rich.” The party also opposes a government proposal to abolish the “largest shareholder premium,” which raises the taxable stock value of a deceased company owner’s holdings by 20%. If entrepreneurs who dedicate their lives to building businesses are forced to sell them off rather than pass them down, who benefits—the workers, the economy, or the country?
And the DPK isn’t stopping there. The party has reintroduced the so-called “Yellow Envelope Act,” which would grant greater protections to workers engaged in illegal strikes. Yet, its lawmakers still visit Samsung Electronics and urge it to “continue leading South Korea’s economic growth.” The hypocrisy is impossible to ignore.
