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Kim Yong-beom, presidential chief of staff for policy, floated the idea of a "national dividend" in a Facebook post late Monday, writing that gains from the AI infrastructure era were built on an industrial foundation the entire nation accumulated over half a century. The benchmark Kospi index fell as much as 5.1% before recovering to close down 2.3% after Kim clarified he was referring to excess tax revenue rather than a new windfall levy on corporate profits. A government official confirmed to the outlet that the government is not considering any such plans, and that the comments were Kim's personal opinion.
The post came during the final stretch of government-mediated talks between Samsung and its largest labor union. Negotiations entered a second day on Tuesday at the National Labor Relations Commission in Sejong after 11 hours of talks on Monday produced no agreement, the Korea Herald reported.
Samsung chip workers reject $340,000 one-time bonus, demand annual payouts like SK hynix's $900,000
More than 30,000 Samsung union members take to the streets to demand higher cut of AI profits, an average of $400,000 per worker
Every SK hynix employee could receive $477,000 bonuses this year, almost $900,000 next year
The union is demanding 15% of operating profit as performance bonuses, removal of the existing payout cap, and a 7% base pay increase. Samsung management has reportedly offered terms exceeding rival SK hynix's 10% profit-sharing , but the union rejected those proposals because it wants the ratio institutionalized as a permanent system.
Samsung is forecast to post roughly 330 trillion won ($220 billion) in operating profit this year, while SK hynix is projected at 239 trillion won. If the two companies hit those marks, their combined corporate tax bill alone could exceed 100 trillion won, which would surpass the roughly 100 trillion won the Korean government estimated for total national corporate tax collection in 2026, per KB Securities analyst Lim Jae-kyun.
The union has set May 21st as the start of an 18-day general strike running through June 7th if talks collapse. Seoul Economic Daily reported earlier today that the negotiations were heading toward failure, with the Korea Herald noting that the Labor Relations Commission left open the possibility of extending mediation past its scheduled close if necessary.
A one-day walkout in April cut Samsung's contract foundry output by 58% on the affected night shift, and analysts have estimated that an 18-day stoppage could cost $6.9 billion to $11.7 billion in direct production losses.
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- https://www.tomshardware.com/tech-industry/south-korean-official-proposes-citizen-dividend-from-samsung-and-sk-hynix-tax-windfall-spooking-markets#main
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