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South Korea roils market by floating ‘citizen dividend’ from AI gains

The Japan Times·Shinhye Kang·21 days ago
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#southkorea#ai#samsung#iranwarendgame#sanaetakaichi#boom
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Samsung, whose operating profit soared 48-fold in the March quarter, is projected to surpass Apple and Alphabet to rank second only to Nvidia among the world’s most profitable tech companies. | BLOOMBERG A top South Korean policymaker said the nation should pay citizens a “dividend” using taxes on AI profits, underscoring growing pressure to redistribute gains from a boom that’s enriched chipmakers like Samsung Electronics and SK Hynix. The comments in a Facebook post by presidential policy chief Kim Yong-beom fueled sharp swings in Korean stocks on Tuesday as investors struggled to parse the scope of the proposals. The benchmark Kospi sank as much as 5.1%, then pared losses after the influential policy adviser clarified he wanted to tap “excess tax revenue” generated from the AI boom, rather than roll out a new windfall levy on corporate profits. Shares in Samsung and SK Hynix recouped much of their early losses.…

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