The South Korean government denies rumors about establishing a new think tank to utilize chip giants' excess profits.

The South Korean Ministry of Trade, Industry and Energy stated in a declaration: "The rumors circulating online that Seoul has sent letters to Samsung Electronics and SK Hynix, requesting the establishment of a government-led think tank related to profit sharing, are completely false." The ministry added: "We will take strong measures to crack down on malicious dissemination of such misleading information and will refer this matter to the investigative authorities."