President Lee Jae-myung, who begins a tour of the United States and South America starting on the 24th of this month, will meet with Nvidia CEO Jensen Huang and OpenAI CEO Sam Altman in San Francisco to discuss cooperation on artificial intelligence (AI). Samsung Electronics Chairman Jay Y. Lee, SK Group Chairman Chey Tae-won, and Hyundai Motor Group Executive Chairman Euisun Chung will also meet Huang and others in Silicon Valley to firm up cooperation plans on semiconductors, data centers, and physical AI. President Lee and the heads of major conglomerates appear to be mounting an "all-out push" to expand contact points with global companies and to ensure the success of three mega projects for future industries. For Korea, which is targeting a top-four position in AI on the strength of the three mega projects considered the largest undertakings since the nation's founding, a solid "AI alliance" with global companies is desperately needed.
Yet the moves by major rival nations and overseas companies to gain supremacy in AI and semiconductors are by no means easy to counter. Last month, Japan designated 17 strategic sectors including AI and semiconductors and decided to inject an astronomical 370 trillion yen (about 3,200 trillion won) by 2040. Taiwan's TSMC, the world's largest foundry (contract chipmaker), is determined to build a record nine plants this year alone to widen its gap with Samsung Electronics. China's largest DRAM maker, Changxin Memory Technologies (CXMT), has also moved to raise its memory market share, raising 29.5 billion yuan (about 6.65 trillion won) through an initial public offering (IPO) within the year. Each of these is a threat that could shake Korea's advanced industries from their roots.
In such a grave situation, it is unacceptable for the government and the National Assembly to remain complacent amid the semiconductor super-boom. According to a Seoul Economic Daily report dated the 22nd, the government and ruling party plan to unveil a special law at the end of this month that would allow horizontal cross-investment among affiliates, introduce exemptions to the 52-hour workweek, and extend the employment period for fixed-term workers in the three mega zones. The ruling and opposition parties must not turn this into political strife, and should pass it swiftly as soon as the detailed measures are prepared. They must also promptly supplement the so-called Yellow Envelope Act, which effectively bars the reassignment of workers without union consent. President Lee also called the demand "absurd" after Samsung Electronics' Cho-Enterprise Union said it would make the Honam-region semiconductor plant a bargaining agenda item, and instructed the Ministry of Employment and Labor to set standards. It must be kept in mind that unless the bundle of regulations that shackle investment and leave companies unable to move is removed, becoming an AI powerhouse could end up as an empty slogan.
