Heo Jiwoong Delivers Harsh Criticism to Labor Minister: "Are You Following a Cult?"

Direct Criticism of Minister Kim's Remarks on the Redistribution of Excess Corporate Profits

Writer and broadcaster Heo Jiwoong sharply criticized Minister of Employment and Labor Kim Young-hoon for advocating the redistribution of excess profits from semiconductor and artificial intelligence (AI) companies.

Writer and broadcaster Heo Jiwoong. Instagram

Recently, Heo Jiwoong uploaded a photo of Minister Kim on his social media, directly challenging the discussion of excess profit sharing raised at the 'AI Technology Innovation Forum.' He pointed out, "In the end, this isn't really about additional tax revenue," adding, "Shouldn't we start by defining what excess profit actually means?"

He went on to say, "Why isn't there talk of sharing losses and failures? When companies face difficulties, the government may offer support, but it doesn't take responsibility for bankruptcies. In capitalism, it is those who bear the risks that receive the rewards," he argued.

Heo Jiwoong emphasized that the nature of the semiconductor industry means undermining a company's investment capacity should be avoided. "The speed of capital injection is key. If we distribute returns just because the current results are good? Absolutely not. Right now, competitors are experiencing rapid growth," he explained. "If we shake companies with these kinds of discussions, Chinese firms like Changxin Memory could surpass us within just a few years."

Regarding Minister Kim's statement that "liberating ourselves from the dichotomy of 'investment versus distribution' is the first step to opening the door to a new society," Heo Jiwoong retorted, "Is the labor minister following some kind of cult?" He continued, "You acknowledge that we're facing extraordinary, unprecedented circumstances, yet you only see it through an overly optimistic lens? From start to finish, the whole thing is completely nonsensical. I don't even know where to begin in pointing out the problems."

At the forum on July 14, Minister Kim argued that the excess profits of major semiconductor companies should be fairly redistributed since they are the result of government tax incentives, infrastructure support, and the efforts of workers—essentially amounting to reinvestment. During the opening remarks, he stated, "The existing framework built during the industrialization era cannot fully encompass a new era," and added, "We need a new social contract for humanity suited to the AI era." He continued, "The astronomical achievements of companies are not the result of their independent innovation alone. The astronomical AI outcomes represent the collective total benefit created by our society. We must move beyond the dichotomous thinking of 'investment versus distribution.' Fair distribution is the most certain reinvestment," he stressed.

This content was produced with the assistance of AI translation services.