The head of South Korea's policy warns that chip dividends may trigger real estate risks

```htmlGolden Ten Data reported on June 22 that Kim Yong-beom, Head of Policy at the South Korean Presidential Office, stated that policymakers need to consider how the benefits of the thriving chip industry can spread to the entire economic system. He warned that historically, excess liquidity tends to eventually flow into the real estate market. Kim Yong-beom pointed out that, driven by the global artificial intelligence boom, profits in the semiconductor industry have soared, and South Korea's nominal economic growth rate has reached its fastest level in more than twenty years. Although macroeconomic indicators show that the economy has entered an unusually strong growth phase, many households and small and medium-sized enterprises have yet to truly feel its benefits. Kim Yong-beom mentioned that in the first quarter, South Korea's real GDP grew by 3.8%, while real gross domestic income grew by 13.2%, a significant gap between the two, indicating that the rise in chip prices boosted South Korea's purchasing power far more than its actual output growth. He stated that most of the resulting income growth has not yet appeared in the broader economy, but may gradually become evident over the next few quarters through bonuses, wage increases, and export income returning, and could eventually support luxury goods consumption and real estate demand. "Looking back at history, such funds have repeatedly flowed into the real estate market, and it's hard to assume this cycle will be any different," Kim Yong-beom added.```