South Korea's top economic policy official Kim Yong-beom has warned that the country's AI-driven semiconductor boom risks funneling wealth into real estate rather than productive investment. Korea is on track for double-digit nominal growth for the first time in over two decades, but the gains are concentrated in chipmakers like Samsung and SK Hynix. Kim called for 'normalisation of property taxation' to prevent excess liquidity from pooling in housing, describing real estate income as 'unearned' and warning that concentrated wealth from the chip boom could undermine its longevity.
11 Impressions