South Korea to Use Chip Tax Surplus for Social Gains
President Lee Jae Myung announced plans to redistribute surplus tax revenue from the semiconductor sector to benefit society. Marking one year in office, he pledged to integrate AI across industries and downplayed economic risks from the war in Iran.
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South Korea President Lee Jae Myung will redistribute surplus tax revenue from the semiconductor sector to society following record chipmaker profits. The plan follows record first-quarter earnings from SAMSUNG ELECTRONICS CO LTD and SK HYNIX INC driven by AI demand. Investors face potential windfall tax debates as Lee shifts the national growth strategy toward AI-integrated industrial policy.
