Song Young-gil: "We Will Support Vehicle Semiconductor Measures"… Visit to Ulsan Hyundai Motor Plant

The Democratic Party of Korea's leader Song Young-gil, floor leader Yoon Ho-jung, and the leadership paid respects at the late President Roh Moo-hyun's tomb in Bongha Village, Jinyeong-eup, Gimhae City, Gyeongnam Province on the morning of the 6th.
[Image source=Yonhap News]

[Asia Economy Reporter Lee Seung-jin] Song Young-gil, leader of the Democratic Party of Korea, visited Hyundai Motor's plant in Ulsan on the 6th and stated that the party would make efforts to resolve the vehicle semiconductor supply issues.

On the day, Leader Song met with executives including President Ha Eon-tae at the Hyundai Motor plant and said, "Due to COVID-19, vehicle sales actually increased and Hyundai Motor was doing well, but suddenly the shortage of vehicle semiconductors caused production disruptions, which was very concerning."

He continued, "Since over 98% of vehicle semiconductors are dependent on overseas companies such as TSMC with almost no domestic production, there is a lot of concern," adding, "The party plans to check the supply status through the semiconductor special committee and explore ways to diversify imports, production, technology, and development of vehicle semiconductors, which is why I visited."

Leader Song emphasized, "As party leader, I have presented five core tasks: real estate, vaccines, semiconductors, climate change, and peace and prosperity on the Korean Peninsula," and added, "By visiting the site directly, I will clearly indicate the direction of the new Song Young-gil-led Democratic Party and support the party internally."

Although senior party members were scheduled to accompany the visit to Hyundai Motor, attendance was minimized considering the spread of the COVID-19 variant in the Ulsan region. Lawmaker Yang Hyang-ja, chair of the party's semiconductor special committee, Chief Spokesperson Ko Yong-jin, and Lawmaker Lee Sang-heon, whose constituency is in Ulsan, attended.

Earlier, Floor Leader Yoon Ho-jung also stated at the policy coordination meeting on the same day, "The global shortage of vehicle semiconductors continues, and the Democratic Party will actively support the vehicle semiconductor industry facing difficulties," adding, "We will create comprehensive semiconductor industry reinforcement measures covering taxation, finance, and technology development."

This content was produced with the assistance of AI translation services.