Kim Jong-kwan, the Minister of Trade, Industry and Energy, stated on August 6 that the 52-hour workweek system should be exempted for semiconductor research and development, emphasizing that "the system should not stifle the will of those who want to work."
During a discussion at the Korea Press Center in Jung-gu, Seoul, he remarked, "The issue of the 52-hour workweek is not limited to the semiconductor sector. While some basic rules are necessary, the system needs to be revised."
Minister Kim stressed the importance of rapid market capture for the growth of the semiconductor industry. He noted, "The semiconductor market, projected to grow to $1 trillion within the next five years, is one where once a customer is secured, it is not easily changed. We must seize the market as quickly as possible."
He added, "If we cannot maintain our current market share as the market grows from $200 billion to $1 trillion, the strategic asset of semiconductors could weaken. Companies that lose customers or fail to respond to demand in a timely manner will find it difficult to re-enter the market, so both the government and businesses must act more swiftly than before."
Kim identified China as a key competitor in the semiconductor field. He expressed concern, stating, "China's semiconductor technology, scale, and speed are truly shocking and chilling. I feel that China is making steady progress in the materials, parts, and equipment sectors. I hope all economic entities in our country recognize this issue as a wake-up call."
He also discussed the importance of investment in the Honam region, saying, "Ideally, I would like to build a nuclear power plant in the metropolitan area, but the semiconductor fab in Yongin alone cannot meet demand, and we cannot build factories in the metropolitan area for power supply, so we are looking to Honam as a new production base."
Regarding nuclear power, he stated, "In a country like ours, where renewable energy is limited and insufficient, nuclear power is inevitable. I do not believe the current government is opposed to nuclear power."
During a discussion at the Korea Press Center in Jung-gu, Seoul, he remarked, "The issue of the 52-hour workweek is not limited to the semiconductor sector. While some basic rules are necessary, the system needs to be revised."
Minister Kim stressed the importance of rapid market capture for the growth of the semiconductor industry. He noted, "The semiconductor market, projected to grow to $1 trillion within the next five years, is one where once a customer is secured, it is not easily changed. We must seize the market as quickly as possible."
He added, "If we cannot maintain our current market share as the market grows from $200 billion to $1 trillion, the strategic asset of semiconductors could weaken. Companies that lose customers or fail to respond to demand in a timely manner will find it difficult to re-enter the market, so both the government and businesses must act more swiftly than before."
Kim identified China as a key competitor in the semiconductor field. He expressed concern, stating, "China's semiconductor technology, scale, and speed are truly shocking and chilling. I feel that China is making steady progress in the materials, parts, and equipment sectors. I hope all economic entities in our country recognize this issue as a wake-up call."
He also discussed the importance of investment in the Honam region, saying, "Ideally, I would like to build a nuclear power plant in the metropolitan area, but the semiconductor fab in Yongin alone cannot meet demand, and we cannot build factories in the metropolitan area for power supply, so we are looking to Honam as a new production base."
Regarding nuclear power, he stated, "In a country like ours, where renewable energy is limited and insufficient, nuclear power is inevitable. I do not believe the current government is opposed to nuclear power."
* This article has been translated by AI.
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