South Korean President clarifies "universal dividend" proposal: No mention of using corporate profits

Golden Ten Data, May 13 – South Korean President Lee Jae-myung stated that a recent post by his adviser regarding the redistribution of profits from the AI boom, which sparked heated public debate, was intended to initiate a broader public discussion on how to utilize potential unexpected tax revenues. In the post, Lee Jae-myung explained that the comments made by his policy chief, Kim Yong-beom, were essentially "exploring the feasibility of a plan to distribute the country's excess tax revenues generated from windfall profits in the AI sector as 'citizen dividends' to the general public."Kim Yong-beom's remarks triggered significant volatility in the South Korean stock market, with investors confused over the specific scope of his proposal. The KOSPI Index at one point plummeted by 5.1%, but the losses narrowed after a prominent policy adviser clarified that the intention was to use "excess tax revenues" generated by the AI boom, rather than imposing a new windfall tax on corporate profits. Previously, an official from the South Korean Presidential Office had stated that Kim Yong-beom's comments represented his personal views and were not the subject of official discussion.