Industry Minister Kim Jung-kwan speaks during a meeting with meeting with economy-related ministers on May 29. [NEWS1]
Industry Minister Kim Jung-kwan said productive reinvestment should take priority in the use of corporate profits, a stance at odds with that of Labor Minister Kim Young-hoon, who recently called for the social redistribution of excess corporate earnings.
"Success in the era of AI is determined by speed and scale," wrote Industry Minister Kim Jung-kwan on X, formerly known as Twitter, on Friday. "The highest priority in the use of corporate profits should be productive reinvestments."
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His remarks came as debate grows over how corporate profits should be used, particularly as semiconductor companies post operating profits worth hundreds of trillions of won.
