"Making Semiconductors with Nuclear Power Plants Means We Can't Sell Them Overseas"
"Are You Dividing Companies Too? They Should Have a Sense of Responsibility"
Hong Ik-pyo, the floor leader of the Democratic Party of Korea, criticized President Yoon Suk-yeol's remarks on the semiconductor industry and nuclear power, saying they "cause anxiety for companies and have become a laughingstock globally." He added, "It is truly a vulgar and frivolous economic perspective."
At a floor strategy meeting held at the National Assembly on the morning of the 23rd, Hong referred to President Yoon's statement on the 15th that "if we phase out nuclear power, we must give up not only semiconductors but also advanced industries, so we need to continue developing the nuclear power industry," saying, "I was skeptical, wondering if he had decided to completely shut down advanced industries including semiconductors."
Hong Ik-pyo, the floor leader of the Democratic Party of Korea, is speaking at the floor strategy meeting held at the National Assembly on the 23rd. [Image source=Yonhap News]
He pointed out, "If, as the president said, a semiconductor factory built with hundreds of trillions of won in investment is powered by nuclear energy, those semiconductors cannot be sold overseas," adding, "According to RE100, the electricity used in production must come from renewable energy to sell semiconductors to major buyers like Apple, Google, and BMW." He continued, "Using nuclear power to run semiconductor factories is not included in this," and questioned, "Is the president's idea to produce semiconductors in Korea with huge investments but make it impossible to sell them to large corporations or major global companies?"
He went on, "There are already warnings that the delayed energy transition of our companies, including Samsung Electronics, will significantly reduce competitiveness," mentioning, "According to Samsung Electronics' own report, if RE100 is not achieved, a sales decrease of up to 31.5 trillion won is expected, and they have pledged to achieve RE100 by 2050." He especially criticized, "Even this plan is 10 years behind Taiwan's TSMC," and reiterated, "The president's claim to make semiconductors with nuclear power, focusing only on developing the nuclear power industry without regard for semiconductors, is truly an illogical story."
Hong Ik-pyo, the floor leader of the Democratic Party of Korea, is speaking at the floor strategy meeting held at the National Assembly on the 23rd. [Image source=Yonhap News]
Additionally, Hong criticized President Yoon's remark at the same event that "a rich country and a poor country are distinguished by whether they produce and sell expensive goods in the international division of labor," calling it "a truly vulgar and frivolous economic perspective."
He said, "Isn't the government's role to make good products, sell them at high prices, and contribute to the international community?" He pointed out, "Nowadays, even companies talk about ESG management, emphasizing that making money is not the only important thing, but also contributing to the international community and addressing environmental issues." He added, "(President Yoon) seems to be dividing the world into binaries and also dividing domestically and among companies," and said, "I hope there is a sense of responsibility for contributing to the international community. We must not become an economically vulgar and frivolous nation like the Merchant of Venice."
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