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LG faces backlash for its plans on selling Apple iPhones in South Korea
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Smartphone distributors aren t happy about LG s planned iPhone deal with Apple
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Controversy rises over profit sharing idea
Posted : 2021-01-12 16:56 By Kang Seung-woo
Debates are rising over ruling Democratic Party of Korea (DPK) chief Lee Nak-yon s proposal for a profit-sharing scheme aimed at encouraging profitable companies to distribute their earnings to those hit hard by the COVID-19 pandemic.
Democratic Party of Korea (DPK) Chairman Rep. Lee Nak-yon attends the party s Supreme Council meeting at the National Assembly in Seoul, Monday. / YonhapAlthough the ruling side is stressing that it will not twist anyone s arm and will instead offer various incentives, such as corporate tax breaks, to those voluntarily adopting the scheme, the opposition is critical of the idea, claiming that it goes against market economy principles. Plus, business owners are also skeptical of the proposal, saying there are no clear criteria on which companies are profitable.