Blue House Policy Chief’s ‘National Dividend’ Proposal... People Power Party Demands “Immediate Resignation”

Song Eonseok: "Must Be Held Accountable for Market Turmoil... Immediate Dismissal Needed"

The People Power Party continued its all-out attack on May 12 regarding Kim Yongbeom, the Blue House policy chief's so-called 'national dividend' plan, which involves distributing excess semiconductor tax revenue to the public.

Choi Eunseok, a member of the People Power Party, stated via his social media platform on the same day, "This is a shocking idea that is hard to believe originated in a free Republic of Korea in the 21st century," adding, "Chief Kim should take responsibility and resign immediately."

Choi Eunseok, a member of the People Power Party who announced his intention to run for Daegu mayoral election, is being interviewed at the National Assembly Members' Office Building in Yeouido, Seoul on the 24th. Photo by Kang Jinhyung

Assemblyman Choi said, "The notion that surplus profits generated by the boom in artificial intelligence (AI) and the semiconductor industry should be structurally returned to the entire population ultimately means the state will redistribute corporate achievements after the fact," adding, "This is a dangerously misguided view that essentially regards companies' innovation and investment results as public property."

Choi continued, "The semiconductor and AI industries are fields where only companies that endure massive upfront investments and technological risks survive. If the government sends a message that 'excess profits belong to the people,' it can only be interpreted by corporations as a warning that the government will take more when companies achieve results." He further noted, "The market responded immediately, and foreign media pointed out that investors are now viewing this as a new policy risk."

Choi added, "Chief Kim's careless remarks caused unnecessary shock and confusion in the market. At a time when the KOSPI 8000 was being discussed, he poured cold water on the situation by introducing policy uncertainty," emphasizing, "Anyone responsible for the Korean economy and capital markets must first fully understand what signals they are sending to the market."

Song Eonseok, the floor leader, also commented via social media on the same day, "Korea's AI and semiconductor industries have grown on the capital and risk tolerance of private companies, shareholders, and investors. Treating these achievements as if they belong to the state is anti-market," adding, "If the policy chief in the Presidential Office, who has significant influence over the Korean economy, repeatedly delivers anti-market messages, it sends a negative signal to global investors that Korea's stock market is a difficult place to do business."

Song further asserted, "Chief Kim must bear grave responsibility for the shock and confusion his remarks have caused in the market," and urged, "President Lee Jaemyung should clearly state his position to the public regarding the remarks by Chief Kim that have destabilized the capital market, and immediately dismiss him."

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