South Korea's AI tax windfall a 'golden window' for investment: Lee
South Korea will use a tax revenue windfall from artificial intelligence chipmakers as a strategic source of investment, President Lee Jae Myung said on July 13, describing a “golden window” of opportunity.
Global demand for advanced memory chips used in AI data centers has helped South Korea’s semiconductor giants post record profits this year, boosting economic growth.
The boom has also strengthened workers’ demands for higher pay, with Samsung Electronics avoiding a major strike in May after reaching an agreement on bonuses.
“Driven by an unprecedented semiconductor boom fuelled by the AI revolution, we expect to see additional tax revenues on a scale never experienced before,” Lee said at a policy meeting with cabinet members.
