A proposed amendment to the Labor Standards Act that would allow part of employees' wages to be paid in local currency, specifically community love gift certificates, has sparked significant backlash. Initially believed to apply only to bonuses at major semiconductor companies like Samsung Electronics and SK Hynix, the amendment has been revealed to potentially affect all workers with explicit consent or collective agreements, escalating the controversy.
On July 10, various online communities and social media platforms shared a comparison table of the current and proposed legal texts. The table highlights that while the existing law mandates wages to be paid in cash under Article 43 of the Labor Standards Act, the amendment would permit payment in non-cash forms, such as community love gift certificates, if there is explicit consent from the worker or a collective agreement.
Responses from online communities, regardless of political leanings, have been largely similar. Both conservative and progressive groups have voiced concerns that the principle of cash wage payments in a democratic country should not be compromised.
One user expressed, "I initially thought this only applied to bonuses at Samsung and Hynix, but now it seems to target all workers. This feels like the beginning of a communist build-up." Others commented, "While it claims to require worker consent, isn't it effectively coercive for small businesses?" and "If local currency is distributed widely, won't prices just rise?" Some suggested that lawmakers should first receive their salaries in local currency as a test.
Particularly, some users referenced the past property holdings of Park Min-kyu, the lawmaker who introduced the amendment. They criticized, "Park Min-kyu of the Democratic Party, who proposed this amendment, owns 13 properties, the highest number recorded in 25 years. Shouldn't he be considered a landlord rather than a lawmaker?" and urged, "Don't experiment with citizens' wages; apply it to lawmakers' salaries first."
Earlier, the largest union at Samsung Electronics, the Samsung Group's mega labor union, issued a statement on July 10 calling for the withdrawal of the amendment. The union stated, "The proposed amendment to allow part of wages, including bonuses, to be paid in community love gift certificates with explicit worker consent is a dangerous attempt that undermines the principle of cash wage payments. It must be retracted immediately."
Following this, both the Korean Confederation of Trade Unions (KCTU) and the Korean Federation of Trade Unions (KFTU) also demanded the amendment's withdrawal.
The mega labor union asserted, "If you are confident that community love gift certificates are no different from cash, then apply it first to the salaries of the lawmakers who proposed the bill."
Concerns are also growing within the semiconductor industry. Amid ongoing debates over the excess profit recovery policy in the semiconductor sector, there are fears that corporate competitiveness may weaken. Among employees at Samsung Electronics and SK Hynix, there is a rising movement to participate in a national petition demanding the cessation of the excess profit recovery policy and the withdrawal of policies that harm corporate competitiveness.
In the financial sector, analysts predict that Samsung Electronics' Device Solutions (DS) division and SK Hynix will generate operating profits of approximately 400 trillion won and 300 trillion won, respectively, this year. Consequently, bonuses expected to be paid early next year are anticipated to average several hundred million won per employee.
* This article has been translated by AI.
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