We experimentally demonstrate low-repetition-rate mode-locked operation of a macroscopic semiconductor ring laser. Since antiphase periodic pulses are observed only when the two directions of operation are constrained to spatially overlap in the semiconductor medium, we interpret this regime as a result of coupling and competition between clockwise and counterclockwise emission directions. Because of its time constants and the possibility of unidirectional operation, the device could be highly suitable for the generation of temporal cavity solitons.