A gathering of lawmakers affiliated with the Democratic Party of Korea (DPK), South Korea’s largest opposition party, has drawn attention for the analysis of Samsung Group’s family-run management to highlight the leadership of the late Chairman Lee Kun-hee who laid the foundation for South Korea’s “semiconductor miracle.”

Attendees at the seminar organized by the party’s group for national competitiveness emphasized the need for national-level support to maintain the country’s position as a semiconductor powerhouse, citing Lee’s achievements in the semiconductor industry.

The seminar, titled “Assisting Global Companies - The Role of Semiconductor Global Competition and Samsung’s Owner Management Model,” took place at the National Assembly Members’ Office Building on Tuesday.

The event garnered significant interest both within and outside the political sphere, as it signaled a policy shift within the DPK, which has maintained a critical stance towards conglomerates, with “pursuing chaebol reform” explicitly stated in the party’s agenda.

Representative Kim Byung-wook, who organized the seminar, argued that “fairness and growth must go hand in hand,” stressing the need for the DPK to move away from its image as an “anti-business party” and transform into a practical and capable political entity.

During the seminar, participating DPK lawmakers shed light on the positive effects of “owner management model,” referencing Lee.

Representative Yoo Dong-soo quoted Lee’s words, “We must make technology investments with a perspective of five or ten years,” and expressed the urgent necessity to go beyond regulating conglomerates and chaebol reform, focusing on the revitalization of state-led industries and the economic recovery of South Korea.

Representative Song Ki-hun said that “we need to devise ways to further harness innovative and positive owner management model, which played a significant role in the development of the semiconductor industry.”

By Choi Seung-jin and Minu Kim

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