Jang Dong-hyuk: "Stop Chasing Dividends and Pay Off the Debt First"

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At the Supreme Council meeting held at the National Assembly on the 14th, Jang Dong-hyuk criticized the plan for a "Universal Basic Dividend," saying, "Whether it is excess profits or excess tax revenue, it is not money that Lee Jae Myung earned through good governance." He added, "The very idea of forcibly taking it away is typical gang mentality."
Jang said that even as a Samsung Electronics strike that could cause losses worth tens of trillions of won is becoming a reality, Lee Jae Myung is interested only in collecting money. He added that Kim Yong-beom's Universal Basic Dividend reflects Lee's true intentions.
Jang said that Samsung Electronics and Hynix are thriving now, but only three or four years ago they were posting massive losses amid a global semiconductor downturn. He noted that when the PPP pushed the K-Chips Act to help revive the semiconductor industry, the Democratic Party of Korea fiercely opposed it, calling it a special favor for conglomerates.
He went on to say that if his party had not worked to the end to pass the K-Chips Act, South Korea would not be able to ride the current semiconductor supercycle. He also pointed out that the Democratic Party of Korea has always opposed future-oriented investments, including nuclear power generation, not just semiconductors.
Jang said, "If Moon Jae-in's nuclear phase-out policy had succeeded, would the current semiconductor boom have been possible?" He added that the party is still opposing the exemption from the 52-hour workweek limit for semiconductor research and development.
He said that after repeatedly obstructing progress, they now want to forcibly take the money as if it were money they earned through their own efforts. He called that a classic gang mentality. He added that the money Lee Jae Myung is now distributing to boost approval ratings and buy votes will ultimately become debt that future generations must repay.
He also said that as Lee Jae Myung rapidly increased borrowing, Government Debt has exceeded 1,300 trillion won. He added that international organizations, including the IMF, are warning about the speed of South Korea's debt growth.
Jang stressed that if there is excess tax revenue, the debt should be paid off first. He said the public should not be deceived by the absurd claim that fiscal austerity is populism, and urged the government not to chase after a Universal Basic Dividend but to stop the Samsung Electronics strike first.
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artpark@fnnews.com Beom-jun Park Reporter