On June 22, Kim Yong-bum, South Korea's presidential policy chief, stated that policymakers need to consider how the benefits of the chip industry's prosperity will spread throughout the economy, warning that historically, excess liquidity often ends up in the real estate market. Kim pointed out that driven by the global AI boom, profits in the semiconductor sector have surged, leading South Korea's nominal economic growth rate to reach its fastest level in over two decades. Although macroeconomic indicators show the economy has entered an unusually strong growth phase, many households and small to medium-sized enterprises have yet to truly feel the benefits. Kim noted that South Korea's real GDP growth in the first quarter was 3.8%, while real gross national income growth reached 13.2%, indicating a significant gap that suggests the boost in purchasing power from rising chip prices far exceeds the growth in actual output. He mentioned that most of the income growth generated has not yet been reflected in the broader economy but may gradually manifest in the coming quarters through bonuses, wage increases, and the return of export revenues, potentially supporting luxury consumption and real estate demand. 'Historically, such funds have often flowed into the real estate market, making it difficult to assume this cycle will be any different,' he stated.