Cheong Wa Dae rejects reports on semiconductor windfall tax use

May 14, 2026, 10:45 am

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The South Korean national flag flies over the Blue House complex on Dec. 28, one day before the presidential office’s return to Cheong Wa Dae. The photo was taken from the Government Complex Seoul in Jongno District. /Park Sung-il

South Korea’s presidential office on Wednesday denied reports that it was reviewing ways to utilize excess tax revenue generated by the semiconductor industry, as the administration moved to contain growing controversy surrounding a proposed “national dividend” concept.

The denial followed comments by President Lee Jae-myung and presidential policy chief Kim Yong-beom that sparked debate over whether the government was considering redistributing gains tied to the semiconductor supercycle.

“The government is not reviewing plans related to the use of excess semiconductor tax revenue,” the presidential office said in a statement. “The administration continuously discusses economic conditions, tax revenue situations and fiscal investment directions.”

The statement came a day after Lee criticized what he described as “malicious fake news” circulating in some media outlets regarding remarks made by Kim.

On Tuesday, Lee wrote on X that certain reports had distorted Kim’s comments to falsely suggest that the government was considering distributing corporate excess profits directly to citizens.

Kim initially raised the issue on Facebook on May 11, arguing that the benefits of the AI infrastructure era were not created solely by individual corporations but were built upon decades of national industrial development supported by the public.

“The fruits of the AI infrastructure era are not the result of specific companies alone,” Kim wrote. “They emerged from an industrial foundation built collectively by the entire nation over half a century.”

Some local media outlets later reported that Kim had instructed senior economic officials, including presidential economic growth secretary Ha Joon-kyung and fiscal planning adviser Ryu Deok-hyun, to examine possible uses for excess semiconductor-related tax revenue.

According to those reports, the government was allegedly considering including such measures in its upcoming second-half economic growth strategy announcement next month and in next year’s budget proposal scheduled for release in late August.

The presidential office’s latest statement appeared aimed at shutting down broader speculation over a possible “national dividend” policy tied to semiconductor profits or tax windfalls.

#Cheong Wa Dae #Blue House #Lee Jae-myung #Kim Yong-beom #semiconductor taxes