Opposition party leader’s meeting with Samsung’s chief must go beyond rhetoric

Lee Jae-myung (right), leader of the Democratic Party, greets Samsung Chairman Jay Y. Lee at the SSAFY Seoul Campus in Gangnam on the 20th before a youth employment roundtable. (Joint Press Corps)

During his meeting with Samsung Electronics Co. Executive Chairman Jay Y. Lee on Thursday, Democratic Party Leader Lee Jae-myung noted that “for the country to thrive, businesses must succeed, and for Samsung’s investors to prosper, Samsung must do well.”

While his words ring true—economic growth depends on corporate innovation, job creation, and market confidence—such statements are empty if not backed by action.

If the government continues to shackle businesses with restrictive regulations while calling on them to drive economic growth, it raises doubts about the sincerity of such pro-business rhetoric.

A prime example is the rigid enforcement of South Korea’s 52-hour workweek.

The semiconductor industry has repeatedly urged for flexibility, at least for R&D personnel, arguing that chip design and process development often require intensive, unpredictable research periods.

If engineers must clock out after exactly 52 hours each week, innovation and competitiveness will suffer.

Industry leaders fear that Korea will lag behind global rivals like the United States and China, where no such restrictions exist.

Yet, DP Leader Lee and his party continue to ignore these concerns.

The situation is similar to the recent commercial law revision.

Last week, the DP pushed through an amendment strengthening corporate directors’ fiduciary duties to shareholders.

While investor protection is important, this law could deter executives from making bold investment or merger decisions for fear of lawsuits and criminal liability if stock prices fall.

Such uncertainty would stifle corporate growth and weaken Korea’s economic momentum.

If lawmakers truly wish to support businesses, they should at least address outdated and ambiguous laws like the nation’s rigid breach-of-trust statutes, which leave room for arbitrary legal interpretation.

Earlier this month, DP Leader Lee met with Ryu Jin, chairman of the Federation of Korean Industries, saying that “the political sector must minimize obstacles to business activity.” If these words are sincere, his party should present real solutions to loosen regulatory shackles.

So far, the DP has shown little initiative in this regard.

It is difficult to shake the suspicion that meetings with business leaders are merely a calculated attempt to appear pro-business ahead of elections.

Actions, not rhetoric, will determine whether such engagements are genuine.