Jang Dong-hyeok says Lee Jae-myung "forced Samsung Electronics to kneel using gangster tactics"

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[The Financial News] Jang Dong-hyeok, the PPP's Standing Election Campaign Committee Chairperson, said on the 22nd that Samsung Electronics' labor and management had reached a last-minute agreement ahead of a general strike, and accused Kim Young-hoon, the Minister of Employment and Labor from the Korean Confederation of Trade Unions (KCTU), of stepping in to mediate. He claimed that the government had "forced management to kneel in a gangster-style move by sending a KCTU minister to broker a deal on the union's terms without getting its own hands dirty."
At a campaign committee meeting held that day at the party's headquarters in Yeouido, Seoul, Jang said, "They are demanding that more than 10% of operating profit be paid out as performance bonuses every year for 10 years." He added, "That would inevitably mean cutting dividends, investment and new hiring. I worry whether semiconductor competitiveness can be maintained."
He also noted, "People are even talking about Samsung-before and Samsung-after within the same company," adding that "the wage gap and dual structure in the labor market will only deepen."
Jang said, "Labor unions at major companies are all demanding performance bonuses of n%. That is because of the learning effect that Lee Jae-myung will ultimately side with the unions." He added, "The fear of n is spreading across the ROK economy."
He went on to claim, "The KCTU is demanding performance bonuses from thousands, even tens of thousands, of subcontractors. Then Kim Yong-beom at the Blue House talked about a national dividend, and even the Korean Peasants League has stepped in to demand that Samsung Electronics share its profits." He said, "Everyone is grabbing a spoon before the rice is even cooked."
Jang emphasized, "If the Yellow Envelope Act, which revises Articles 2 and 3 of the Trade Union and Labor Relations Adjustment Act, is not amended now, the growth engine of the ROK economy will be completely severed."
haeram@fnnews.com Lee Hae-ram Reporter