Writer and broadcaster Heo Ji-woong has sharply criticized the government's discussions on excess profit distribution in the semiconductor industry and comments made by the Labor Minister. His remarks have quickly gained traction online, sparking criticism even within progressive circles.
On July 15, Heo Ji-woong posted a lengthy message on his Instagram account. He questioned the discussions on excess profit distribution, stating, "This is not about additional state revenue. Shouldn't we first define what excess profit is? Why is it that we only discuss sharing profits and not losses?"
He emphasized, "Even when the government helps struggling companies, it does not take responsibility for their bankruptcy. In capitalism, the entity that takes the risk reaps the profits."
Heo further criticized the notion of distributing excess profits, saying, "It is uncertain whether reinvesting all operating profits into facilities and technology will lead to stagnation or advancement. The speed of capital input is crucial. Yet, to say we will share excess profits just because current results are good? That is unacceptable."
He also pointed out that competitors are rapidly growing, stating, "They only need to distribute with the Communist Party. If we allow this kind of discussion to shake our foundations, we will be overtaken by Chinese companies like Changxin in a year or two." He directly referenced the Labor Minister's comments, questioning, "Is the Labor Minister believing in some kind of cult religion when he says, 'Transcending the binary thinking of investment versus distribution is the first step to opening the door to a new society'?"
He concluded his post by stating, "It is a total mess from start to finish. I don't even know where to begin."
This controversy follows a discussion forum held the previous day titled 'A New Path for Social Innovation in Line with AI Technology Innovation.' During the forum, the main agenda was how to share excess profits from the semiconductor industry with workers, partner companies, and society. A representative from the Korean Confederation of Trade Unions sparked controversy by stating, "I don't think shareholders have ownership rights over corporate profits. Dividends are merely a procedurally defined right."
As Heo Ji-woong's post spread, over 400 critical comments emerged from progressive women in their 20s and 30s. Many expressed their discontent, with comments such as, "I used to vote for the Democratic Party thinking it was the lesser evil, but I can't do that anymore. After ruining the market, they talk about excess profits," and "Is this North Korea?"
One commenter reflected on their changing perspective, stating, "I used to not understand why older generations talked about communism. Now that I am paying taxes, buying a house, and thinking about the future, I understand. I still dislike the Taegukgi Brigade, but I feel like the '개딸' and the Taegukgi Brigade are the same. There are no absolute lines in politics; they are all just different kinds of trash we keep recycling. This time, the trash failed to be reused, and I don't think I will vote for the Democratic Party again."
* This article has been translated by AI.
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