Cheong Wa Dae denies any ongoing review on 'public dividends' using excess tax revenue from chip boom

The government is not conducting any review on handing out "public dividends," the presidential office said Thursday, strongly dismissing a news report that such a review is currently under way. The report came two days after Kim Yong-beom, presidential chief of staff for policy, suggested using anticipated excess tax revenues from the semiconductor boom driven by artificial intelligence (AI) to hand out such benefits to the public as a way of sharing the "fruits" of business success that he claimed was made possible, at least in part, by the social and public infrastructure. "It is not true that a review (is under way) on how to utilize surplus tax revenue from the semiconductor (industry)," a Cheong Wa Dae official said. The presidential office earlier said Kim's proposal was strictly based on a "personal opinion" and that no internal discussions or review on the issue had taken place.

Original source: Korea Times