"It appears that Lee Jae-myung’s Blue House has summoned Samsung and SK and issued a decree to build a semiconductor plant in Jangseong, Jeollanam-do." [Photo = Yonhap News]

People look for a comfortable spot before stretching out their legs. Even animals in the wild do not make their beds on damp or wet ground. If animals do this and all humans do the same, surely a corporation that influences the entire nation’s economy cannot build a factory just anywhere.

It appears that Lee Jae-myung’s Blue House has summoned Samsung and SK and issued a decree to build a semiconductor plant in Jangseong, Jeollanam-do. The issue lies in the validity of this mandate. Is Jangseong, Jeollanam-do, truly a place capable of hosting a semiconductor plant?

Is Jeolla-do truly a suitable location for hosting a semiconductor plant?

Semiconductors are electricity-guzzling monsters. They also require massive amounts of water. Therefore, there must be a sufficient supply of electricity and industrial water. Can Jeolla-do provide this? Even more important is the workforce. And not just any labor force—semiconductor personnel require top-tier, expert-level talent.

Can Jeolla-do provide all this talent? Even if they were to recruit from universities in the capital area, who would actually come to live in a remote corner of Jangseong, Jeollanam-do?

The reason China and Japan have struggled to leap into becoming semiconductor powerhouses, despite their intense efforts, is not solely due to U.S. sanctions. The semiconductor industry is fundamentally dependent on people. China and Japan could not catch up to Samsung because they could not prepare the same caliber of talent that Samsung has.

Even if Jeolla-do were to prepare all the funding, electricity, and industrial water, where would they find the talent that doesn't exist there?

The reason Jeolla-do is desperate to attract corporations is the constant decline in its population. As the population shrinks, businesses fail, and with failed businesses, the vacancy rate for commercial buildings has exceeded 50%. It is becoming an increasingly desolate wasteland. Gwangju, in particular, is in a severe state.

It is their own doing. Jeolla-do has not been a place that nurtures, protects, and develops businesses. Instead, it is a place accustomed to bleeding companies dry under the guise of labor movements. It is no wonder that Kumho Tire, a company long regarded as a Jeolla-based enterprise, fled to Poland. Lotte Chilsung also closed its operations and left. Thus, Gwangju and Jeolla-do have ended up like a dog chasing a chicken—left with nothing.

I suspect that Jeolla-do learned something after witnessing the strike declaration by the Samsung Electronics labor union. In the end, Samsung Electronics agreed through labor-management negotiations to pay employees performance bonuses of up to 600 million won per person. It is also known that SK Hynix provided bonuses commensurate with this. Furthermore, an annual salary reaching 100 million won and high-quality welfare benefits are conditions anyone would covet.

How wonderful it would be to insert a straw into such a company and live off it. Local governments could extract development funds without hesitation, real estate prices would soar, and as people flock in, businesses would thrive.

This is the ulterior motive behind Jeolla-do mobilizing all its political power to attract Samsung and SK. It is the mentality of a thief looking to swallow a company whole. Samsung and SK have been bitten by the ghost of labor activism.

Should political logic be applied to the national economy?

The semiconductor industry is one where ultra-precision technology and speed are matters of life and death. If one falls behind in this technology, it is self-evident that they will collapse, just as Japan did. That is why annual technology investments reach 37 trillion won. Yet, they want to bring such a company to a location where it cannot possibly function and drain it dry?

Semiconductors are a critical industry that must be treated at a national strategic level. If we fall behind here, South Korea is finished. We are barely achieving trade surpluses now thanks to the semiconductor boom. Yet, they want to send these companies to Jeolla-do based on nothing but political logic?

Lee Jae-myung may try to explain things through the lens of a Buddha or a pig, but Jeolla-do is a place with a documented history of "eating" companies through the lens of labor activists. It lacks electricity and water. This is the same Jeolla-do that even tore down the weirs on the Yeongsan River that were meant to store water. Furthermore, there is no semiconductor talent there. Most absurd of all, this is a region that has habitually vilified Samsung.

What Lee Jae-myung should be worrying about right now is not semiconductors, but stabilizing the exchange rate. With the rate having gone from the 1,300 won range to 1,540 won, citizens are experiencing a currency devaluation of about 30%.

Now, 1 million Korean won is worth only about 700,000 won abroad. 300,000 won has simply vanished while sitting still. There is even talk that this is not the end and that the won's value will decline further.

Then again, can we really expect the economy to be restored to normalcy by the same mentality that seeks to move the semiconductor industry to Jeolla-do? This entire situation is a national misfortune. And yet, they tell us "not to view it through the eyes of a pig"? Do they intend to survive by milking corporations regardless of whether the country collapses? Is this not the thieving mentality of both Lee Jae-myung and the people of Jeolla-do? This is truly the behavior of pigs with their eyes rolled back.

Comment: I feel sorry for Samsung’s Lee Jae-yong and SK’s Chey Tae-won. I can only sigh at how their glory, built upon the spirit of "contributing to the nation through business," is being captured by communists and driven to this state. Thus, we, the citizens, must fight in their stead. Let us fight. "Oppose the relocation of Samsung and SK to Jeolla-do!"

◆ Poet Jung Jae-hak

Poet, Person of National Merit, Columnist, Promotional Committee Member for President Park Chung-hee, 36-year teaching career in Jeolla-do