"It's Time to Focus All Efforts on Economic Growth"
Lee Jae Myung, the presidential candidate of the Democratic Party of Korea, visited SK Hynix on the 28th for his first economic activity since being nominated as the party’s presidential candidate, emphasizing the importance of fostering advanced industries, including the semiconductor sector.
Lee Jae Myung, the presidential candidate of the Democratic Party of Korea, is speaking at the Supreme Council meeting held at the National Assembly on the 28th. Photo by Kim Hyun Min
At the “AI (Artificial Intelligence) Memory Semiconductor Roundtable” held at the SK Hynix Icheon campus that afternoon, Lee stated, “The international trade environment is deteriorating significantly. In particular, the unilateral tariff hikes by the United States and the rise of protectionism are causing a serious crisis for the Korean economy, which is centered on exports. The national economy ultimately depends on business activities, and as politicians responsible for the livelihoods of the people, we must make every effort to ensure economic growth and development.”
He continued, “The most important task is fostering future advanced industries. I would like to hear your opinions on what measures are needed so that Korea’s semiconductor industry, which is already somewhat ahead, can continue to lead the world without suffering major setbacks. I hope that SK Hynix, which is shouldering the responsibility for the Korean economy in this challenging environment, will overcome the current situation and continue to grow as a main pillar of the Korean economy.”
That afternoon, Lee attended the “K-Semiconductor, Artificial Intelligence (AI) Memory Semiconductor Company Roundtable” at the SK Hynix Icheon campus in Icheon, Gyeonggi Province. At the event, Lee said, “The international trade environment is worsening, and the unilateral tariff hikes by the United States are causing many crises for Korea’s export-oriented economy. I believe now is the time to focus all our efforts on economic growth and development.”
He added, “Among these efforts, fostering future advanced industries is the most important task. I would like to hear your opinions on what measures are necessary for Korea’s semiconductor industry, which is already somewhat ahead, to continue leading the world without suffering major setbacks.”
In particular, he said, “I would like to hear in the closed session what preparations are needed to build an advanced technology ecosystem, including semiconductors. I hope that Hynix, which is responsible for the Korean economy in this challenging environment, will overcome the current situation and continue to grow as a key pillar of the Korean economy.”
Attendees from the Democratic Party included Jin Sungjun, Chairman of the Policy Committee; Kim Woni, Chairman of the National Assembly’s Industry, Trade, and Energy Committee Subcommittee; Cho Seungrae, Chief Spokesperson; and Kim Taeseon, Chief of Staff. From SK Hynix, President and CEO Kwak Nojeong, Vice President for External Cooperation Kim Jeongil, Corporate Center President Song Hyeonjong, Cha Seonyong from the Future Technology Research Institute, and Vice President for CR Jeong Sangrok were present.
Kwak said, “The paradoxical situation in which Hynix was able to achieve an earnings surprise despite the shock of negative growth offers insights into which areas we should focus on for the recovery and growth of our economy. These achievements were made possible by the unified efforts of all Hynix members under the leadership of Chairman Chey Tae Won, through continuous technological innovation and bold investments.”
Earlier that morning, Lee had also announced plans to support the semiconductor industry as his first pledge since being nominated as the party’s presidential candidate, via social networking services (SNS). Specifically, he pledged: ▲ the swift enactment of a special semiconductor law ▲ expanded tax benefits for semiconductors ▲ the establishment of RE100 (100% renewable energy) infrastructure for semiconductors and the rapid creation of the Yongin Semiconductor Cluster ▲ full support for semiconductor research and development (R&D) and talent cultivation.
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