South Korean President Warns of Potential Harm from Excessive Union Demands

He said companies should treat workers as partners in management, while workers and unions must act responsibly. Lee added that public outcry over such demands would affect solidarity among laborers.

The remarks followed a threat by a major labor union at Samsung Electronics Co. to launch an 18-day general strike starting May 21. The union is demanding high bonuses based on the company's record revenue. Some analysts predict operating losses could reach up to 10 trillion won (US$673.6 million) if the strike occurs.

Earlier on the same day, Samsung Electronics Co. reported its first-quarter net profit increased to 47.22 trillion won from 8.22 trillion won a year earlier, driven by demand for high-end memory chips used in artificial intelligence applications.

Lee noted the artificial intelligence transition is causing fundamental changes in labor and industrial sectors, calling for coexistence and cooperation to address the challenge. He emphasized the need for responsibility and solidarity to create a society where workers and the public can coexist.

Lee also mentioned this year's first observance of Labor Day on Friday as a statutory holiday, highlighting efforts to reduce labor market disparities and improve workplace safety.

Lee stated that a sharp increase in producer prices last month could lead to consumer price increases in one to two months. He urged officials to implement measures to stabilize consumer prices. The president identified prices of agricultural, livestock and fishery products, as well as logistics costs, as key areas requiring effective stabilization measures.