Seoul: President Lee Jae Myung has issued a cautionary message to labor unions, emphasizing that excessive demands could backfire and affect not only the unions but also other workers. During a meeting with senior aides at Cheong Wa Dae, President Lee urged unions to adopt a more responsible stance on labor issues.

According to Yonhap News Agency, Lee's remarks come in the wake of a potential strike by a major labor union at Samsung Electronics Co. The union has threatened an 18-day strike starting May 21, demanding high bonuses in light of the company's record-breaking revenue. Analysts predict that the strike could lead to operating losses of up to 10 trillion won (US$673.6 million).

Samsung reported a significant surge in its first-quarter net profit, rising more than fivefold to 47.22 trillion won, driven by the growing demand for high-end memory chips used in AI applications. President Lee highlighted the importance of a cooperative spirit to navigate the ongoing transition in the labor and industrial sectors due to AI advancements.

President Lee also pointed to the first statutory observance of Labor Day this year, underscoring the need to address labor market disparities and enhance workplace safety. He expressed concerns about a recent spike in producer prices potentially leading to consumer price hikes and stressed the need for officials to focus on stabilizing prices, particularly in agricultural, livestock, fishery products, and logistics costs.