Korea JoongAng Daily - Daily News from Korea

Samsung Electronics' labor union has suspended its planned general strike, avoiding what could have become a major disruption to Korea's semiconductor industry. Yet the unprecedented confrontation, driven by demands from highly paid workers for massive performance bonuses, has left broader concerns for Korean society and industry. Because Samsung has long been regarded as Korea's representative corporation and a benchmark for corporate management, the impact of the dispute is likely to spread well beyond a single company.

Under a tentative agreement reached on Wednesday, Samsung Electronics decided to provide semiconductor division employees with company stock equivalent to 10.5 percent of business profits in addition to the existing OPI, or excess profit incentive, system. It is at least fortunate that the company avoided formally institutionalizing a permanent "X percent of operating profit" bonus structure. Still, concerns remain because the agreement weakened basic principles by allowing bonuses to be distributed even to loss-making divisions. The aftereffects could prove significant both within Samsung and across other industries.

Indeed, similar bonus demands have already emerged at Hyundai Motor, HD Hyundai Heavy Industries, Samsung Biologics and Kakao. Such demands are difficult to find elsewhere in the world because they effectively undermine shareholder authority and the dividend structure that forms the foundation of publicly traded corporations. Employees who bear none of the investment risk would effectively claim profits ahead of shareholders and creditors. Shareholder groups at Samsung Electronics have already announced possible legal action, arguing that the agreement may violate corporate governance principles.

Critics argue that the revised Trade Union Act, commonly known as the "Yellow Envelope" law, helped create the conditions for such demands. By expanding the scope of strike-related bargaining to include management decisions and reducing unions' legal and financial liabilities for illegal strikes, the law strengthened the negotiating power of large corporate unions. Legislation originally intended to protect vulnerable workers is now being used as leverage by highly paid employees at major conglomerates seeking larger bonus packages.

The broader consequences may not stop there. Soon after Samsung's tentative agreement was announced, both the Korean Confederation of Trade Unions and the Federation of Korean Trade Unions demanded that performance gains also be shared with subcontractor employees.

But the most meaningful social contribution companies can make is to generate profits, pay taxes, invest and create jobs. Calls to divide profits without regard for investment capacity amount to cutting open the goose that lays golden eggs.

While Samsung management and labor were locked in negotiations, China's largest DRAM maker, CXMT, announced that its net profit had surged 17-fold. The company has accelerated its expansion under China's demanding "996" work culture, while Korean chipmakers remain constrained by the 52-hour workweek system. Korea's industries are not in a position to focus on dividing short-term gains. Excessive demands should be restrained, and lawmakers should move quickly to revise a yellow envelope law that is increasingly drifting away from its original purpose.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.

This article is by Seo Ji-eun and read by an artificial voice.

[EXPLAINER]

Two South Korean activists heading to Gaza on a vessel on a humanitarian mission were intercepted and detained by Israeli naval forces in international waters earlier this week, sparking a diplomatic confrontation in a departure from Seoul's traditionally cautious Middle East policy.

At a Cabinet meeting on Wednesday, President Lee Jae Myung did not simply criticize Israel for the maritime seizure.

He demanded the legal basis for the detentions, publicly challenged his own aides and floated the possibility of the International Criminal Court's (ICC) arrest warrant for Israeli Prime Minister Benjamin Netanyahu.

The gamble appeared to yield quick results. On Thursday, the Blue House announced that Israel had released both South Korean activists, bypassing standard detention procedures to deport them directly. The activists — Kim Ah-hyun and Kim Dong-hyeon — are expected to arrive in Korea on Friday morning via a third country, a Foreign Ministry spokesperson said.

"The Lee Jae Myung administration expresses strong regret over Israel's capture of our citizens," Blue House senior spokesperson Kang Yu-jung said. "However, we commend and welcome the fact that the Israeli side immediately released our citizens."

Seoul's Ministry of Foreign Affairs had been tracking the situation and proactively notifying Israel — as well as transit countries including Turkey and Italy — about the possibility of Korean nationals attempting to reach Gaza. That groundwork, the official said, is what allowed Israel to act within hours of the interception. Kim Ah-hyun was traveling under a revoked passport; the ministry issued her a travel certificate to ensure she could return.

By turning a localized consular dispute into a public debate over international war crimes, however, Lee has sparked debate over whether Seoul is engineering a strategic shift toward a more active diplomacy or merely blundering into a U.S. alliance minefield.

At Wednesday's Cabinet meeting, President Lee called Israel's interception of a third-country vessel in international waters illegal and its treatment of Korean nationals "inhumane." He said the seizure had no valid legal basis — the ship was not in Israeli waters, and its passengers were on a humanitarian mission, not a military one.

"It gives a foreign military absolutely no legal right to abduct them," he said. "The fact that they violated a domestic travel ban is an internal matter for South Korea to handle."

He then raised the ICC.

The court issued an arrest warrant against Netanyahu in November 2024 — which remains in effect — citing alleged war crimes and crimes against humanity in Gaza, including the use of starvation as a method of warfare. When an aide confirmed the warrant's existence without going further, Lee said "Then he's a war criminal." He ordered officials to review whether Seoul, as party to the Rome Statute, should be prepared to enforce it.

This was not his first criticism of Israel.

In April, Lee reposted a video alleging abuse by Israeli forces and compared Israeli wartime conduct to the Holocaust.

The video — filmed in the West Bank in September 2024 — had drawn criticism from the White House, which called it "very shocking," and even the Israeli military acknowledged it was "a serious incident contrary to the military's values."

Israel's foreign ministry at the time condemned Lee's remarks. Seoul's diplomats moved to contain the fallout, and Foreign Minister Cho Hyun said the misunderstanding had been resolved.

South Korea is a state party to the Rome Statute, and its domestic law sets out specific procedures for cooperating with The Hague-based ICC, applying extradition rules to surrender requests. If Netanyahu were ever to enter South Korean territory, Seoul would face a real legal and political decision — not just a rhetorical one.

The Blue House has since tried to downplay the confrontational nature of Lee's remarks....

This article is by Lee Jae-lim and read by an artificial voice.

[NEWS ANALYSIS]

The AI boom propelled Korean chipmakers to unprecedented profit, ushering in a new bonus system tying payouts to a fixed percentage of annual profits that amount to six times an employee's annual salary or more. Samsung's tentative agreement, following in the footsteps of SK hynix, lays the groundwork for a so-called AI bonus, prompting labor unions at firms not considered major beneficiaries of the AI boom to raise similar demands.

The push has spread across industries, from Samsung Biologics — Samsung's contract drug manufacturing affiliate — to information technology companies, telecoms and shipbuilding, with HD Hyundai's shipbuilding units and Hanwha Ocean among those demanding a significant share of operating profit be set aside for employee bonuses.

From next year, 10.5 percent of the profit from Samsung's semiconductor division from the previous year — stripping out one-off gains such as currency effects — will be distributed as performance bonuses to employees over the next decade in the form of company shares, with the previous cap on payouts removed.

However, the arrangement comes with conditions. The division must generate at least 200 trillion won ($133 billion) in operating profit annually between 2026 and 2028, and maintain annual profitability of at least 100 trillion won from 2029 to 2035.

Of that 10.5 percent, the bonus pool is split two ways. Forty percent is shared equally across the three units within the semiconductor division — memory, chip manufacturing and chip design — while the remaining 60 percent is distributed based on each unit's performance. Since only the memory division is expected to turn a profit this year, driven by the AI and high bandwidth memory boom, it is likely to claim the entire performance-based 60 percent pool. Divisions without direct revenue — such as human resources, finance and research and development (R&D) — will receive 70 percent of whatever the memory division takes home.

Based on market estimates that Samsung will generate 300 trillion won in operating profit this year, workers in the memory unit could receive bonuses of up to 600 million won per person next year. Even employees in nonmemory units stand to receive around 160 million won each from the common share pool.

This year serves as a grace period, during which nonmemory units will receive their full 40 percent allocation regardless of performance. From next year onward, however, employees in units still operating at a loss will receive only 60 percent of their maximum potential bonus from the common pool.

For now, the deal has averted the worst-case scenario of a production disruption that could have caused damages of up to 100 trillion won. The agreement must still be ratified by a majority vote among Samsung union members, with voting running from Friday through May 27.

Jun Young-hyun, Samsung Electronics vice chairman and semiconductor division head, thanked the union on Thursday for reaching a tentative agreement and urged members to vote in favor.

"What matters most now is that we put the period of conflict behind us and move forward as one," he said. "We believe that with mutual respect and trust as our foundation, we can achieve an even greater leap together."

Experts, however, are already warning of potential ripple effects across other industries if Samsung's new compensation standard sets a broader precedent.

Ripple effects across labor

The unprecedented chip upcycle has fueled employee demands for a larger share of earnings. But Samsung's deal is already setting the stage for unions across other industries to follow suit.

In the shipbuilding sector, which is on the road to profitability after a prolonged downturn, unions at HD Hyundai Heavy Industries and HD Hyundai Samho are demanding that 30 percent of operating profit be paid out as performance bonuses, while the union at Hanwha Ocean is calling for a sweeping overha...

This article is by Yoon Seung-jin and read by an artificial voice.

Korea's classic folk tale "Chunhyangjeon" first captivated Lina when she was a teenager. Inspired by the renowned literary work, the Ukrainian student devoted herself to studying Korean and eventually came to Kyungpook National University through the Global Korea Scholarship (GKS) program.

Her love for Korean literature, language and culture, which has lasted for more than a decade, recently led her to become the first international contestant to win the title of "Mi," or third place, at the Namwon Chunhyang Festival's Global Chunhyang Selection Contest, one of the nation's oldest and most well-known beauty pageants.

"It wasn't just for the experience. It was truly meaningful to me," said Lina, who goes by a shortened version of her full name for privacy reasons, in an interview with the Korea JoongAng Daily. "When I decided to take part in the contest, I wanted to deepen my ties with Korea and its culture. Chunhyang means a lot to me because only her loyalty and love for Mongnyong can describe my love for Korea."

Founded in 1931, the Namwon Chunhyang Festival began as an effort to honor the spirit of Chunhyang while preserving national pride during Japan's colonial rule. Chunhyang is the fictional hero who defies a corrupt magistrate to remain faithful to her lover, Mongnyong.

The contest expanded eligibility to foreign participants in 2024 as part of its globalization efforts. Last year, Estonian contestant Laura Mai Schults won the title of "Hyeon," or sixth place.

The Korea JoongAng Daily sat down with Lina to discuss her experiences, her passion for the Korean language and culture, and the future she envisions for herself in Korea.

The following are excerpts from the interview.

Q: What brought you to Korea? How did you start learning Korean?

A: I've always loved learning languages, and when I was in middle school, I fell in love with the Korean language and culture. The language sounded so beautiful to me. As I learned more Korean, I realized that the culture ingrained in the language matched my philosophy and personal values.

I'd say the philosophy of ilpyeondanshim — loyalty and unwavering love — best explains my values, and it resonates with me the most. I think it's something that cannot be perfectly translated into another language.

I studied in Ukraine until my first year of high school and later moved to Estonia. There were very few opportunities to learn Korean there because there were no Korean language institutes or even a Korean embassy nearby, so I started teaching myself with whatever materials I could find on the internet. Later, I had the opportunity to study Korean at the King Sejong Institute in Tallinn and also completed an internship there.

My first chance to come to Korea was in 2022 as an exchange student. I studied Korean literature at Kyungpook National University before returning to Estonia to finish my bachelor's degree.

After graduating, I came back to the university as a GKS scholar, and now I'm pursuing a master's degree in media communications there.

Was the Global Chunhyang Selection Contest the first beauty pageant you participated in? How did you prepare for it?

Yes, it was my first pageant. I naturally learned about the contest because I've always been deeply interested in Chunhyang and Korean culture.

I think only people who truly understand the spirit and meaning of the contest can participate in it.

Many people think the Global Chunhyang Selection Contest is simply a beauty pageant, but I believe it's much more than that. It was originally created to preserve Korean culture, and past winners were selected not only for their appearance but also for their understanding of Korean culture and their ability to promote it.

The selection process even includes a residency period to observe contestants' manners, philosophy and attitude.

While preparing for the contest, I focused most on learning the values represented by Ch...

This article is by Shin Ha-nee and read by an artificial voice.

Veteran boy band Monsta X is not a group known for doing things quietly.

For more than a decade, the six-member group built its name on high-octane performances, thunderous charisma and bold declarations of love in its music. But as members Shownu and Hyungwon step out on their own as a duo, the volume drops — and the heat rises.

"Love Me," set to be released at 6 p.m. on Thursday, is the second EP from Shownu X Hyungwon, the duo of Monsta X members Shownu and Hyungwon. The duo debuted in 2023 with its first EP, "The Unseen," becoming Monsta X's first subunit since its launch in 2015 under Starship Entertainment. The latest EP, therefore, marks Shownu X Hyungwon's first release together in nearly three years.

"As a full group, we have rappers in the team, so we tend to center the performance around a more explosive kind of appeal," said Hyungwon during a roundtable interview with reporters held at Starship Entertainment's headquarters in southern Seoul on Tuesday. "But this time, we wanted to show more of the restrained mood that Shownu and I have.

"Both Shownu and I have voices in lower range, and performance-wise, we are both better at expressing ourselves through restraint," he added. "So we focused on those qualities when putting together the stage."

Hyungwon and Shownu are the two tallest members of Monsta X and, along with the youngest member I.M, among the group's more reserved personalities. That gives the duo its own distinct edge, Shownu said.

"When we promote as a full group, there are six of us, so we can show a more colorful range of intensity," Shownu said. "But as a duo, we're able to be more selective and focused. I hope we can leave a lasting impression through the body lines and silhouettes we create in our choreography, as well as the strong hook of the lead single."

"Love Me" features seven songs: The lead track, "Do You Love Me," and B-sides, "Superstitious," "In My Head," "Breathe" and "Accelerator," along with Shownu's solo track "Around & Go" and Hyungwon's "No Air."

"The lead single, this time, is faster-paced than our previous release and has a stronger hook," said Shownu. "And we wanted to show more mature and diverse sides of us, something more evolved than before."

Among the duo's songs, Hyungwon wrote "Superstitious," "In My Head" and "Accelerator," all of which he composed with specific purposes in mind: "Superstitious," to bring out the vocal strengths of himself and Shownu; "Accelerator," as a message asking fans to trust them in their journey together; and "In My Head," as an anthem for festivals, especially because they are set to perform at Waterbomb Seoul 2026 on July 25.

"I think us as a duo has distinctive strength in live performances and on festival stages," said Shownu. "We have a lot to offer in performance, as well as in interacting with the audience."

The duo is releasing the new album amid Monsta X's ongoing "The X: Nexus" world tour, which kicked off in January in Seoul and will soon enter its Latin American leg with a June 4 show in Mexico City. It also comes right after the group released its U.S. studio album, "Unfold," on April 3.

Despite the rigorous schedule, Shownu X Hyungwon is determined to continue to offer fans something new and refreshing.

"Whenever things got difficult, I felt that I didn't want to miss out on anything," said Hyungwon. "I thought that was the best I could give the fans, so I endured by telling myself to give everything I had while I still could."

Shownu also said that what keeps him going are the messages fans leave for him online.

"Sometimes, they share stories about how they were able to carry on through hardships because of us," he said. "Of course, what I did was make music, perform on stage and communicate with fans. But knowing that those things could become a source of strength — even a kind of healing — for someone is both amazing and something I'm really grateful for."

The...

This article is by Woo Ji-won and read by an artificial voice.

[ABOUT TOWN]: Sindang-dong

Just east of the futuristic curves of the Dongdaemun Design Plaza in Jung District, central Seoul, lies the seemingly quiet neighborhood of Sindang-dong, best known for tteokbokki (spicy rice cakes).

Beneath its tranquil atmosphere, however, stands a far more eerie history — one marked by burial grounds and wandering spirits.

During the Joseon Dynasty (1392-1910), cemeteries spread across the hills outside the fortress walls surrounding Hanyang, the old capital, as burials were prohibited within the city. The area where Sindang-dong is located now once housed numerous cemeteries and cremation sites. Shamans naturally gathered here and built sindang, or shrines, to perform rituals honoring the dead, ultimately giving the neighborhood its name.

That eerie history does little to deter the adventurous looking for a new neighborhood to explore. Today, Sindang-dong is one of Seoul's trendier enclaves, even earning the nickname "Hipdang-dong."

While much of the haunting history has disappeared from view, remnants of old Sindang-dong still exist. A few shrines still survive in quiet corners, while long-standing shops selling grain and restaurants continue to line the streets.

Among them co-exist trendy cafes and bars, which at night grow even livelier, with crowds filling seats tucked in old buildings and market alleys. In Sindang-dong, the past has not vanished but instead learned how to live alongside the new.

"It still carries the feel of old Seoul and feels deeply human," said Park Sang-jun, the owner of Cafe Elak in Sindang-dong. "It may not draw as many crowds as places like Seongsu-dong or Hannam-dong, but the neighborhood once had an incredible energy of its own, and it still has the kind of charm that can pull people back at any time."

Remnants of the past

The story of Sindang-dong begins around Gwanghuimun Gate, making it a fitting place to begin exploring the neighborhood.

During the late Joseon era, hills near the gate, one of the six entrances of Hanyangdoseong — the fortress wall of the old capital — were filled with graves, including present-day Singdang. Funeral processions carrying the dead regularly passed through the gate, cementing its grim reputation as the "Gate of the Dead."

Along the roads outside the old wall, shamans lived and built sindang where they performed rituals to comfort wandering spirits.

Today, however, Gwanghuimun feels far removed from that haunting past. Now serving as one of the entrances into Sindang-dong from Dongdaemun History & Culture Park Station, the gate opens onto a lively street where old restaurants sit beside trendy pizza places and stylish cafes — a snapshot of modern Sindang-dong.

Walk through the gate and head east to enter the neighborhood, where old Seoul begins to reveal itself. Just a few minutes away is an alley that best preserves the neighborhood's past: Ant Alley. The poet Im Bo-seon named the alley in 2017 after the hardworking residents who lived there, drawing a comparison with ants.

First, head to the alley's shelter where the stretch begins. The spot is also known as the place where Yoo Jae-suk and Cho Sae-ho sat and filmed during an episode featuring Sindang-dong for the hit TV show "You Quiz on the Block" (2018-).

A signboard crafted by a local woodcraft artisan introducing the alley greets visitors. Wander along the alley with weathered houses tightly packed together, remnants of the neighborhood's earlier residential history. Murals throughout the alley reflect the community's affection and pride for the area.

The next alley leading to the main road is known as "Myeongin" Alley, or Master Craftsman Alley. At its peak, dozens of blacksmiths operated there, though only a few workshops remain today, with one having operated for around 50 years. It's another old character that still defines Sindang-dong.

Old and new

To fully enjoy Sindang-dong, one has to experience both...

The author is a former emeritus professor of history at Konkuk University.

Before the undersea tunnel opened in 1994, crossing the English Channel by ferry was a memorable experience in itself. When departing from the French port city of Calais, tour guides with even a modest knowledge of history would often stop in front of the city hall to point out the famous sculpture "The Burghers of Calais" (1895).

In 1347, during the Hundred Years' War, French forces resisted an English siege in Calais for nearly a year before surrendering. The victorious English king, Edward III, reportedly demanded that six leaders of the city present themselves for execution and hand over the keys to the city gates as a condition of surrender.

According to the well-known account, the city's leaders hesitated until a nobleman named Eustache de Saint Pierre volunteered to go first. Five others then joined him. Though the king initially intended to execute them, the men were ultimately spared after the intervention of the English queen, Philippa of Hainault.

France later transformed this humiliating episode into a national myth. The city of Calais commissioned the renowned French sculptor Auguste Rodin to depict the moment when the six men were led away to their presumed deaths. Rodin spent a decade completing the work before it was installed in front of the city hall in 1895.

Looking at the sculpture, it is difficult to read the emotions on the figures' faces with certainty. Saint Pierre, the first to step forward, lowers his head in apparent resignation. A younger man gazes outward with anger in his eyes. Another clutches his head in fear, while one looks skyward in visible grief. The expressions of the remaining two are more ambiguous, almost unreadable.

The men wear only rough sackcloth garments, a biblical symbol of surrender and penitence, recalling the book of "2 Samuel" in the Old Testament. Ropes hang around their bodies as signs of self-imposed guilt, while the figure at the front carries the keys to the city gates.

Historians agree that a surrender ceremony did take place, but whether events unfolded in such tragic fashion remains uncertain. Some have described the story as a "constructed myth." Yet Rodin's sculpture has long transcended France itself, coming to symbolize the sacrificial obligations of those in positions of privilege and power. At times, it becomes difficult to distinguish where history ends and myth begins.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.

The author is the former ambassador to Kuwait and head of the Reset Korea Climate Response Committee.

Recent international developments are forcing countries to reconsider the fundamentals of energy security. In the Middle East, tensions between the United States and Iran continue to intensify, while Kuwait last month declared force majeure on exports of crude oil and petroleum products. At the same time, the Russian invasion of Ukraine has dragged on into a prolonged conflict, solidifying an era in which energy itself is used as a geopolitical weapon.

As a result, instability surrounding the Strait of Hormuz, including volatility in oil prices and global supply chains, is no longer a temporary variable. It is increasingly becoming a structural constant in the global economy.

For Korea, the risks are especially severe. The country depends on the Middle East for more than 70 percent of its crude oil imports, while crude oil and petroleum products account for roughly 18 percent of total national imports, valued at approximately $113.1 billion. Even more concerning is Korea's structural vulnerability: About 95 percent of crude oil imported from the Middle East passes through the Strait of Hormuz.

The moment the strait faces disruption, domestic industry and consumer prices in Korea are likely to be affected immediately. The recent risks originating from Kuwait clearly illustrate one reality: An energy system excessively dependent on a particular region and maritime shipping route can collapse unexpectedly and with little warning.

The war in Ukraine has already demonstrated this lesson in stark terms. Europe relied heavily on inexpensive Russian natural gas for years and paid a steep price after the outbreak of war. Energy dependence, in the end, became a strategic vulnerability. Korea cannot assume it will be exempt from the same danger. If the current structure remains unchanged, the next crisis may not simply involve higher prices but actual physical supply disruptions.

Against this backdrop, Spain has chosen a very different path. Through its National Energy and Climate Plan for 2021–2030, known as PNIEC, Spain established a goal of increasing renewable energy to 81 percent of total electricity generation. Since then, the country has rapidly expanded solar and wind power while pursuing greater electricity self-sufficiency as a national survival strategy.

The transition has not been seamless. Nevertheless, Spain has continued investing in power grids and energy storage systems, or ESS, to build an energy structure less vulnerable to external shocks.

Spain's experience offers Korea at least three important lessons.

First, Korea must reduce its dependence on the Middle East. Supply chain diversification cannot remain merely a political slogan. It must involve a structural reorganization of the country's energy system. As one of the world's five largest crude oil importers, Korea must regard diversification not as an option but as a survival strategy.

To reduce excessive dependence on Middle Eastern oil, Korea should expand imports from countries such as the United States, Australia and Africa in order to distribute geopolitical risks more broadly. This will require stronger energy diplomacy, including deeper cooperation with major energy-producing nations and more consistent long-term resource diplomacy aimed at improving both supply stability and bargaining power in energy contracts.

Second, Korea must move beyond the exhausting ideological debate surrounding renewable energy. The country no longer has the luxury of wasting time on a simplistic binary choice between solar power and nuclear energy. The real priority is constructing a stable electricity system.

In the era of AI and carbon neutrality, electrification has become central to industrial competitiveness and economic sustainability. Ensuring a stable supply of electricity through renewable energy and other sources is now among the country's most urgent tasks.

At th...

Chung Hyo-shik

The author is the social news editor at the JoongAng Ilbo.

At a recent dinner gathering with longtime acquaintances, the conversation turned to the June 3 local elections and the races for mayor in Seoul, Busan and Daegu. Some argued that fluctuating opinion polls showed the contests tightening within the margin of error and suggested momentum was shifting late in the campaign. Others pointed to surveys still indicating a sweeping victory for the ruling party.

Yet the debate eventually moved elsewhere — to the stock market.

Specifically, the discussion centered on labor unrest at Samsung Electronics and rising U.S. interest rates driven by high oil prices, both of which have increased volatility in shares of Samsung Electronics and SK hynix. Before long, someone remarked that whether the Kospi index could remain above 7,000 through election day might ultimately determine the outcome of the Seoul mayoral race.

Has Korea entered an era of "Kospi democracy?"

The following day, Samsung Electronics' labor union officially declared negotiations with management had collapsed, making a general strike on Thursday appear inevitable. In response, the government warned it could invoke emergency arbitration powers to force a suspension of the strike.

Prime Minister Kim Min-seok stated in a televised address on Sunday that the government "cannot avoid considering all available measures, including emergency arbitration, in order to protect the national economy." President Lee Jae Myung reinforced the message the following day, saying labor rights must be respected but so too must corporate management rights.

With less than two weeks remaining before the election, the government appeared determined to defend Samsung Electronics' stock price and prevent a broader collapse in the Kospi.

The reasons are understandable. Virtually the entire country has become a stakeholder in the stock market. As of the end of last year, Samsung Electronics alone had 4.61 million shareholders while SK hynix had 1.18 million. Since the end of last year, the number of domestic stock trading accounts has risen from 98.29 million to 106.06 million by mid-May, when the Kospi briefly surpassed 8,000 during intraday trading — an increase of roughly 8 million accounts.

With retail investors surging, a sharp market decline would quickly become a political problem for the government itself. President Lee's signature campaign pledge of a "Kospi 5000 era" may already have been surpassed, but allowing the market to fall from above 7,000 back into the 5,000 range would create a very different political shock.

The Kospi's market capitalization stood at 6,536 trillion won ($4.33 trillion) on May 14. A fall to the 5,000 range would erase more than 20 percent of household asset value, reducing market capitalization to roughly 5,000 trillion won. For the president, the political risks are enormous.

The possibility of invoking emergency arbitration against a union strike is itself unusual under a progressive administration traditionally aligned with organized labor. If exercised, it would mark the first such intervention in 21 years since the Roh Moo-hyun administration halted strikes at Asiana Airlines and Korean Air in 2005.

The irony is difficult to ignore. Last September, the ruling bloc pushed through the so-called Yellow Envelope Law, a revised labor law expanding the range of labor disputes to include management decisions such as bonus distribution. Critics argue the legislation helped create the conditions for the current performance bonus strike at Samsung Electronics.

Now, after enabling broader labor action, the government is considering one of the strongest possible measures to stop it. Other unions at companies including Kakao, HD Hyundai Heavy Industries and LG U+ are also entering negotiations and strike procedures while demanding bonuses linked directly to operating profits.

The controversy extends beyond labor disputes. Debate has also intensifi...

Jang Deok-jin

The author is a professor of sociology at Seoul National University.

Recent remarks by People Power Party lawmaker Kim Yong-tae deserve closer attention. Responding to criticism directed at teachers over the decline in school field trips, Kim argued that the president had chosen to "set a public target by demonizing a group before beginning discussion." He urged the administration to "stop the politics of blame and focus on the substance of solving social problems."

The comments concerned what appeared to be a relatively small issue involving school programs. Yet they captured a broader pattern that has emerged across nearly every policy area since the current administration took office.

As has often been pointed out in these pages, identifying enemies is a defining characteristic of populist politics. When problems arise, the priority shifts away from solving them and toward deciding who should be blamed. Once a target is identified and attacked, the public may initially feel satisfied. But with time, little is actually resolved.

Among the groups most heavily targeted under the current government are owners of multiple homes. President Lee Jae Myung has even argued that such homeowners contribute to a wide range of social problems, including declining marriage and birthrates, weakening industrial competitiveness and the risk of Korea entering a "lost 30 years" of stagnation.

By today's standards, it is a remarkable leap in logic. Owning an additional apartment supposedly makes one responsible not only for housing prices but also for whether younger generations marry or whether the country experiences decades of economic decline.

If policymakers were less focused on blaming certain groups and more committed to seeking practical solutions, they might recognize that housing policy is far broader and more complicated than political slogans suggest.

There is no reason — nor is it realistic — for everyone to live only in Seoul, only in Gangnam, only in apartments or only near subway stations. Even Kim Soo-hyun, who helped design and introduce the comprehensive real estate holding tax under the Roh Moo-hyun administration and later led housing policy under the Moon Jae-in administration, emphasized the importance of metropolitan transportation in his writings.

Kim noted that cities such as London and Tokyo commonly regard 80 kilometers (50 miles) as a reasonable commuting distance while Seoul effectively operates within a radius of only about 20 kilometers. By limiting solutions to a narrow geographic range, Korea only makes the housing problem more difficult to solve.

If commuting infrastructure expanded the practical living radius to 80 kilometers, the range of housing policy options would look entirely different. The distance from Gwanghwamun to Icheon in Gyeonggi is roughly 80 kilometers. As a resident of Gyeonggi myself, I would have little desire to move back to Seoul if metropolitan transportation improved even modestly.

Even now, once passengers board a regional express bus, they can arrive in central Gwanghwamun within about 30 minutes. The real inconvenience is frequency. Buses often come only once every 15 minutes. If service doubled, commuting between Gyeonggi and Seoul would become far more manageable. Such improvements would undoubtedly require subsidies and raise profitability concerns, but the cost would amount to only a tiny fraction of what has already been spent on ineffective real estate policies.

Why should housing problems not also be approached as transportation problems? Such an approach could help slow regional decline while encouraging the decentralization of essential infrastructure such as schools and hospitals.

Yet calm discussion of such solutions rarely takes place. Instead, political debate centers on condemning people for owning two homes.

The same pattern can be seen in the ongoing general strike by the labor union at Samsung Electronics. The process leading to the strike has reve...