Kospi retreats from 8,000 after AI windfall remarks

South Korea's benchmark Kospi retreated Tuesday after coming within touching distance of the 8,000-point mark, as a top South Korean policymaker's proposal to distribute a "citizen dividend" funded by AI profits rattled investor sentiment, a Bloomberg report suggested. The index closed at 7,643.15, down 2.29 percent from the previous session. Although it climbed as high as 7,999.67 shortly after the opening bell, hovering just below the 8,000 mark, the benchmark quickly reversed course and plung

By The Korea Herald

South Korea roils market by floating ‘citizen dividend’ from AI gains

The benchmark Kospi sank as much as 5.1%, then pared losses after the influential policy adviser clarified he wanted to tap "excess tax revenue" generated from the AI boom.