South Korea's President Lee Focuses on Wealth Gap Reduction on July 21, Cites AI-Driven Inequality

According to the presidential office, South Korean President Lee Jae-myung stated on July 21 during a cabinet meeting that while artificial intelligence expansion is rapidly improving economic indicators, wealth inequality is also intensifying at an alarming pace. Lee emphasized the need to concentrate all fiscal, tax, and financial policy resources on alleviating the wealth gap.

The president noted that although economic figures are improving at an extraordinary rate, small- and medium-sized enterprises, small business owners, and young people remain excluded from economic growth. Lee stressed that widening inequality directly undermines long-term economic sustainability and social stability, and called for enhanced support for youth employment, asset-building programs, housing stability, and multilayered assistance for small businesses.