South Korea’s chipmaking industry is making huge profits for a small slice of the population, sparking a wider debate about who should have a share in the profits of the country’s most valuable industry.
Illustration: Victoria Hart/Guardian Design South Korea’s chipmaking industry is making huge profits for a small slice of the population, sparking a wider debate about who should have a share in the profits of the country’s most valuable industry.
Illustration: Victoria Hart/Guardian Design 3,000% bonuses but a growing wealth divide: South Korea grapples with its AI chip boom Powered by chipmakers Samsung Electronics and SK Hynix, South Korea is seeing a surge in wealth, but there are questions over who gets to share in the profits When South Korea’s most high-profile divorce case returned to court last month, the lawyers were arguing not just about the breakdown of a relationship, but also the exact date at which to value shares in one specific company.
The judges’ decision in Seoul could change the value of business tycoon Chey Tae-won’s assets by billions of dollars.
The shares were in the holding company behind SK Hynix, the manufacturer of chips powering AI systems around the world.
South Korea is one of the world’s biggest makers of these high-value chips and the country is seeing an unprecedented wealth boom from their rise.
From workers in tech firms collecting six-figure bonuses, to ordinary people seeing massive investment returns – all of it driving a surge in luxury spending.
But only a small slice of the population is cashing in, sparking a wider debate about who should have a share in the profits of the country’s most valuable industry.
