Kim Moonsoo Visits Samsung Electronics: "Will Pursue Regulatory Innovation... Please Invest in Korea"

Kim Moonsoo, the presidential candidate of the People Power Party, visited the Samsung Electronics Pyeongtaek Campus on the 26th, promising regulatory innovation and urging, "Please invest in Korea."

On this day, Kim visited the Samsung Electronics Pyeongtaek Campus in Pyeongtaek, Gyeonggi Province, and stated, "I will focus on creating many conditions for Korean companies to invest domestically instead of moving abroad."

Samsung Electronics decided to establish an advanced industrial complex on 3.95 million square meters in Godeok International New City, Pyeongtaek, in 2010, when Kim was serving as governor of Gyeonggi Province, and has since been building the Pyeongtaek Campus. For this reason, Kim cites the attraction of the Samsung Electronics Pyeongtaek Campus as his greatest achievement during his tenure as governor.

Kim wrote "Samsung Electronics, Super First-Class, Super Gap" in the guestbook and compared himself with Lee Jaemyung, the Democratic Party's presidential candidate who also served as the 35th governor of Gyeonggi Province, emphasizing, "This election is not just about choosing a president. It is a contest between the real economy and the fake economy, and between a competent economy and a demagogic economy."

He continued, "Although we are doing well in semiconductors, there are many difficulties. Today, semiconductors are being recognized as a core technology that goes beyond a simple alliance between South Korea and the United States," and added, "People are concerned when they hear that Samsung paid less tax because of business difficulties."

He further stressed, "Semiconductors are at the core of the upcoming artificial intelligence (AI) era. Only if the semiconductor industry thrives will our economy grow larger, our country develop, and our people prosper. If I become president, I will provide full support so that the semiconductor industry can play a leading role in all industries and the economy of Korea."

Yonhap News

원본보기 아이콘

He also pledged to pass the Special Semiconductor Act with an exception to the 52-hour workweek rule. Kim said, "The most important thing is regulatory reform. The competitiveness of the semiconductor industry comes from research and development (R&D), and key engineers need to invest concentrated time and effort in developing new products. However, the 52-hour workweek regulation is holding the industry back."

Kim mentioned that during his tenure as Minister of Employment and Labor, he extended the 'special extended work' period for semiconductor R&D personnel from three months to six months. He said, "It is difficult to widen the super gap with special extended work alone," and pledged, "I will work to pass the Special Semiconductor Act."

He also emphasized that he would establish a 'Regulatory Innovation Office' to promote regulatory reform, and explained his plan to enact the 'Core Principles of Free Economy Act' to significantly reduce regulations.

He addressed the need to ease judicial risks for companies. Referring to the investigation and trial of Chairman Lee Jaeyong, Kim said, "Chairman Lee Jaeyong of Samsung Electronics is still undergoing trial and facing difficulties, and I have never heard of any other global company being monitored by a Compliance Committee. There is no other case where corporate activities are restricted for such a long time," he pointed out.

Additionally, Kim stated, "We must create an environment where the more successful companies become, the more they are applauded by the country and the people. If companies are criticized and shackled as they succeed, our companies will go overseas."

Kim declared, "I will make Korea a better place to do business than any other country in the world and create many conditions for domestic investment. I will focus on ensuring that companies can sustain, expand, and develop their businesses domestically without having to go abroad anymore. I will do this with the conviction that it is about the economy, jobs, and people's livelihoods."

Attending Kim's visit to the Samsung Electronics Pyeongtaek Campus on this day were Kim Yongtae, Emergency Response Committee Chairman; Ahn Cheolsoo and Yang Hyangja, Co-Chairs of the Election Campaign Committee; and lawmakers Choo Kyungho, Lee Manhee, Song Eonseok, Park Sumin, Choi Eunseok, Song Seokjun, Park Sunghoon, and Park Chungkwon. From Samsung Electronics, Song Jaehyuk, President and Chief Technology Officer (CTO) of the Device Solutions (DS) division; Park Seunghee, President in charge of CR; and Kim Wanpyo, President of Samsung Global Research, were present.

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.