Asia: Despite AI boom – South Korea's President warns of inequality
South Korea's economy is growing more strongly than it has for a long time. Nevertheless, South Korean President Lee Jae Myung warns of tensions. He sees the youth protests in Europe as a warning example.
South Korean President Lee Jae Myung has warned of growing inequality and social tensions despite the country's economic recovery driven by Artificial Intelligence. He cited the struggles of young people entering the workforce, saying that economic growth means little if individuals' lives do not improve. The country's economy, home to leading chipmakers Samsung Electronics and SK Hynix, is expected to grow up to 3.6 percent this year, with the semiconductor industry generating around half of that growth.
Lee proposed measures to address inequality, including labor market reforms, support for low-income individuals, and more affordable housing.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
