South Korea’s Blue House Demands Apology from Bloomberg: What’s the Controversy Over Excess Profit Distribution?

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Blue House[Yonhap News file photo][Yonhap News file photo]

The Blue House sent an official protest letter to Bloomberg after the U.S. news organization reported that Policy Chief Kim Yong-beom’s “national dividend” proposal amounted to a plan to redistribute “excess profits” from AI-related companies. According to government officials, the Blue House on the 14th sent Bloomberg a letter formally expressing “serious concerns” about how the outlet covered Kim’s personal social-media post. The Blue House said Bloomberg’s “inaccurate framing” created material market confusion and harmed investor sentiment, and it demanded that Bloomberg acknowledge the issue and issue a formal apology for the market damage. The Blue House said Kim’s remarks were about how to allocate “excess tax revenue,” such as corporate tax windfalls, and that reporting them as a scheme to distribute companies’ “excess profits” was a “major misunderstanding.” It asked Bloomberg to reflect that clarification in its reporting and editorials and said accounts implying Kim first proposed an excess-profit distribution and only later clarified are not accurate. In the letter, the Blue House stressed that “Kim never called for redistributing corporate profits, never proposed imposing a windfall tax on companies, and never suggested directly transferring private-sector revenue.” Bloomberg has not yet responded to the Blue House’s letter. #BlueHouse #KimYongBeom #NationalDividend #ExcessProfits #TaxRevenue #Protest #Bloomberg For Yonhap News TV inquiries and tips: KakaoTalk/LINE jebo23; Jung Da-ye (yeye@yna.co.kr)