South Korea gains tax boost from AI chipmakers' record profits
Business
South Korea just scored a huge tax boost thanks to record-breaking profits from AI chip giants like Samsung and SK hynix.
Lee Jae Myung says this extra cash will be used to fuel national growth, especially as demand for memory chips in AI data centers keeps skyrocketing.
Lee Jae Myung plans special fund
Calling it a "golden window" for global AI leadership, President Lee Jae Myung plans to set up a special fund focused on future industries, youth opportunities, regional development, and education.
The government's budget is also getting its biggest ever, up over 10% from this year's budget, to help make sure everyone shares in the benefits of South Korea's fast-growing AI sector.