Handonghun: "Democratic Party Uses Semiconductor Special Act as a Tool for Political Show"

"Industry cries out that every second counts"
"Must be addressed in the December regular session"

Han Dong-hoon, leader of the People Power Party, said, "We cannot help but suspect that the Democratic Party of Korea is using even the Semiconductor Special Act as a tool for political showmanship." He pointed out that by taking different stances on the Semiconductor Special Act and the position of leader Lee Jae-myung, the Democratic Party is ultimately trying to create a situation where Lee appears to be resolving the issue.

Handonghun, leader of the People Power Party, is speaking at the 2nd Digital Asset STO Forum breakfast meeting held at the National Assembly Members' Office Building on the 28th. Photo by Kim Hyunmin

At the Supreme Council meeting held at the National Assembly on the 28th, Leader Han said, "The semiconductor industry's situation is not idle. The industry is desperately crying out that every minute and second is precious."

He added, "A similar process unfolded during the abolition of the financial investment income tax (금투세). The Democratic Party pretended to strongly oppose the abolition of the financial investment income tax, setting the stage, and in the end, Leader Lee created the scenario where it was abolished," he criticized.

Leader Han emphasized, "Regarding the Semiconductor Special Act, the Democratic Party opposes it at the party level, but on the other hand, Leader Lee is warming up the situation by saying he has an open attitude. Livelihood politics should not be used as a political tool in such a manner. The Semiconductor Special Act is a message that South Korea sends to the world, our people, and the industry in the AI revolution."

Furthermore, Leader Han said, "A message must come out that South Korea has staked the nation's fate on the development of the AI industry through the advancement of the semiconductor industry. Then, companies will also put their lives on the line and jump in, and the market will pay attention." He added, "The People Power Party pledges to definitely pass the Semiconductor Special Act within the December regular session of the National Assembly."

The People Power Party proposed the Semiconductor Special Act as a party bill, which includes exceptions to the 52-hour workweek system and grounds for providing subsidies to semiconductor companies. However, differences in views on the term 'subsidy' and the Democratic Party's opposition to the 52-hour workweek exception clause have caused difficulties in passing the Semiconductor Special Act.