South Korea's AI-driven semiconductor boom has propelled exports, corporate profits, and stock prices to record highs. Yet a senior policymaker has voiced unease, warning the windfall may be dangerously narrow.
Kim Yong-beom, chief of the Presidential Policy Office, said the gains risk fueling property speculation and deepening inequality if they remain concentrated among a few. "Looking solely at the numbers, it is something to cheer about. However, strangely, a corner of my heart feels heavy," he remarked.
The chip sector's meteoric rise has lifted the broader economy, with AI memory chips leading the charge. But Kim's caution highlights a structural challenge: the boom's benefits have yet to trickle down to smaller firms and ordinary households.
Without broader distribution of the economic spoils, the surge could inflate asset bubbles and widen the gap between the haves and have-nots. Policymakers now face pressure to craft measures that spread the wealth beyond conglomerates.
Kim's remarks offer a rare moment of introspection amid the euphoria. They underscore a growing debate over whether South Korea's export-led model can sustain inclusive growth.