[Edaily Reporter Yun Junghoon ] The People Power Party launched a full-scale offensive against the Lee Jae-myung administration, calling the decision by SamsungElectronics(005930)and SK hynix(000660)to invest in the Honam region’s semiconductor industry “a dangerous gamble that sacrifices companies for the sake of the administration’s political achievements.”

The party argues that while past collusion between politics and business took the form of companies funneling money to political circles, the current administration is engaging in a “subtle new form of collusion” by forcing companies to invest in specific regions and support bases using their own funds.

Kim Tae-kyu, Chief Spokesperson for the People Power Party’s parliamentary caucus, opened the offensive on the 28th with a statement refuting remarks made by high-ranking government and party officials, including Prime Minister Kim Min-seok and Kim Yong-beom, Director of the Blue House Policy Office.

Previously, Prime Minister Kim Min-seok had defended the recent semiconductor investment in the Honam region, stating, “It was a decision made by the company based on market logic.”

In response, Spokesperson Kim pointed out, “It was Prime Minister Kim himself who, when Chairman Choi Tae-won expressed the possibility of overseas investment a fortnight ago, pressured the company by saying, ‘Think about how to make it happen in Korea,’” adding, “He is showing a contradiction: preaching ‘spiritual resolve’ when applying pressure, but hiding behind market logic when criticism arises.”

He also took aim at Policy Chief Kim Yong-beom, who had emphasized the legitimacy of the decision by asking, “Would we really try to squeeze the world’s top two companies?”

Spokesperson Kim retorted, “It was Director Kim himself who, just a month ago, proposed a ‘national semiconductor dividend’ to recoup profits from those very top-ranked companies, thereby dragging down the KOSPI,” adding, “The very mouth that says ‘we won’t squeeze them’ is the same mouth that once said ‘let’s squeeze them.’”

The People Power Party made it clear that this investment decision is a classic example of “government interference.” It was pointed out that while SamsungElectronics and SK hynix had drawn a clear line on June 9 regarding investment rumors in the Honam region—stating they were “unaware” and “had no knowledge” of the matter—the process gained momentum after their chairmen were summoned to the Blue House.

Spokesperson Kim argued, “The investment they claimed to know nothing about has transformed into a project worth hundreds of trillions of won, extending from back-end processes all the way to the front-end production hub in Honam,” adding, “This is the result of the administration dictating the investment’s location, timing, scale, and even the announcement date.”

Spokesperson Kim went on to warn, “260 trillion won in National Pension Service funds are tied up in SamsungElectronics and SK hynix,” adding, “If hundreds of trillions of won are forced into suboptimal locations due to political logic, those losses will directly impact the public’s retirement savings.”

His point is that the administration, which had previously stifled corporate management through measures such as the “Yellow Envelope Act,” is now completely trampling on corporate autonomy by even dictating where investments should be made.

Spokesperson Kim escalated his criticism, saying, “Not long ago, they called the public ‘bandits,’ and now they’re calling them ‘pigs,’” and added, “Those in power, who should be answering the public’s questions, are instead insulting the people.”

Finally, the People Power Party emphasized that the government’s role should be limited to “open support” and must not devolve into a “show” that mobilizes the heads of large conglomerates.

Spokesperson Kim emphasized, “If the government truly wants to help businesses, it should transparently disclose the relevant laws, budgets, and procedures and clear the way for them,” adding, “Summoning CEOs to make announcements is not support—it is government interference. The public will never tolerate this.”