Blue House Protests Bloomberg's "Distorted Reporting on AI National Dividend"

"Never Advocated for Redistribution of Corporate Profits"
Blue House Demands Correction and Official Apology

The Blue House has sent an official letter of protest to Bloomberg News, claiming that the U.S.-based outlet distorted statements made by Policy Chief Kim Yongbeom regarding the "national dividend."

Blue House. Yonhap News

According to a government official on the 15th, the Blue House sent a letter to Bloomberg the previous day, stating it had "serious concerns" about the way Bloomberg reported on Kim's social media post.

The Blue House pointed out that Bloomberg's interpretation of Kim's remarks as a proposal to distribute the "excess profits" of artificial intelligence (AI) companies to the public was inaccurate. Kim's comments were opinions on how to utilize "excess tax revenue" such as corporate tax, but Bloomberg reported them as if he was advocating for the redistribution of corporate profits or the imposition of a windfall tax.

The Blue House stated, "Policy Chief Kim has never advocated for the redistribution of corporate profits or the direct transfer of private sector earnings," stressing that "Bloomberg's inaccurate framing has caused market confusion and negatively impacted investor sentiment."

The Blue House also demanded a correction and an official apology, arguing that Bloomberg's reports and editorials inaccurately portrayed Kim as belatedly clarifying his position.

On May 12, Kim stated on Facebook, "The fruits of the AI infrastructure era are not the result of any single company," and referenced a "national dividend system" to return these gains to the public. The government explained that this comment was meant to raise the issue of how to use excess tax revenue.

Bloomberg reported the story under the headline "South Korea Proposes National Dividend Using AI Profits," and subsequently analyzed it in connection with the drop in share prices of Samsung Electronics and SK hynix.

As of now, Bloomberg is reported to have not issued an official response to the Blue House's letter.

This content was produced with the assistance of AI translation services.