Yoon: "Semiconductors Are National Security Assets... Government Must Focus Its Capabilities" (Update)

Repeated Emphasis on Regulatory Reform and Talent Development in the Semiconductor Sector... Yoon "Ministers Must Take Responsibility for Livelihood Economy Recovery"

[Image source=Yonhap News]

[Asia Economy Reporter Baek Kyunghwan] President Yoon Suk-yeol stated that "semiconductors are national security assets" and urged to "focus the government's capabilities on expanding the semiconductor industry base." President Yoon, having promised comprehensive government support for fostering the semiconductor industry, is calling for accelerated regulatory reforms and talent development in the semiconductor sector.

In his opening remarks at the Cabinet meeting held on the morning of the 19th at the Yongsan Presidential Office building, President Yoon said, "Semiconductors are the core of our industry and a key strategic matter intertwined with mid- to long-term plans for the remarkable growth of our economy."

In particular, President Yoon emphasized, "In the advanced industrial structure of the 4th Industrial Revolution, nurturing excellent talent to create a virtuous cycle of growth is of utmost importance," citing regulatory reform as a solution. He stated, "We must boldly ease regulations to expand university quotas in related fields and allow field experts to contribute to education," and added, "Please concentrate the government's capabilities on nurturing science and technology talent to broaden the industrial base."

He also instructed efforts by each ministry to restore the livelihood economy. President Yoon has recently been personally presiding over emergency economic and livelihood meetings and receiving ministry reports, urging the swift implementation of policies that the public can feel. He told the ministers, "Please approach this with a commitment to take full responsibility for reviving livelihoods and the national economy," and "Now is the time not just to check the current status but for each ministry to act responsibly and promptly implement necessary policies."

He also stressed communication. President Yoon said, "No matter how good a policy is, if the public does not know about it or cannot actually feel its effects, it is as if the policy does not exist," and added, "Good policies come from the field. I ask the ministers to personally get out there and communicate more closely with the people."

Regarding the strike by the in-house subcontractor union at Daewoo Shipbuilding & Marine Engineering, he reiterated a tough stance. President Yoon said, "I think both the public and the government have waited long enough," hinting at the possibility of deploying public authority. With the nationwide metalworkers' union announcing a general strike starting on the 20th, tensions between the government and unions are expected to escalate. On the morning of the same day at the Yongsan Presidential Office, when asked by reporters, "Are you considering deploying public authority regarding the Daewoo Shipbuilding strike? What is the expected timing?" President Yoon responded, "In industrial sites and labor-management relations, illegal acts by either labor or management must not be neglected or tolerated."

President Yoon also pointed out the illegal nature of the Daewoo Shipbuilding subcontractor union strike during his weekly meeting with Prime Minister Han Duck-soo the previous day. In response, related ministries including the Ministry of Economy and Finance, Ministry of Trade, Industry and Energy, Ministry of Employment and Labor, Ministry of the Interior and Safety, and Ministry of Justice jointly issued a statement warning that they would strictly deal with the Daewoo Shipbuilding subcontractor union strike if it continues.

Additionally, President Yoon addressed COVID-19 prevention, stating, "Our government's basic philosophy for COVID response is science-based quarantine," and urged, "I ask the government to explain measures in detail so that the public does not feel anxious, and related agencies to do their best to secure sufficient hospital beds and treatments."

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