The Korea Times

President urges prudent approach on sharing excess corporate gains

President Lee Jae Myung acknowledged on Monday that a new social debate has emerged over how to share companies’ excess profits, calling for a cautious approach because the issue could have far-reaching implications for the nation's industrial policy. The president said the debate should be elevated to the international level, warning that any unilateral action by Korea could prompt companies to relocate overseas and also weaken foreign investment. Speaking at a press conference marking his first year in office, Lee made the remarks while addressing a labor-management dispute at Samsung Electronics over how to share the massive operating profits generated amid the global artificial intelligence boom. “It is an agenda that can seriously affect the nation’s industrial policy and it must be dealt with in a prudent manner,” the president said. He said that the excess corporate gains involve contributions from multiple stakeholders, including workers and investors, as well as taxpayers whose money was used to provide subsidies or other benefits. “The issue is not something that can b