[South Korean Policy Chief Warns Chip Boom May Trigger Real Estate Risks] According to a report by Jinse Finance, on June 22, South Korea's Presidential Office Policy Chief Kim Yong-beom stated that policymakers need to consider how the benefits of the booming chip industry can be distributed across the entire economic system. He also warned that historically, excess liquidity often eventually flows into the real estate market. Kim Yong-beom pointed out that under the global artificial intelligence boom, profits in the semiconductor industry have surged, driving South Korea's nominal economic growth rate to its fastest level in over two decades. Although macroeconomic indicators show the economy entering an exceptionally strong growth phase, many households and small-to-medium enterprises have yet to truly feel its benefits. Kim Yong-beom mentioned that South Korea's real GDP growth in the first quarter was 3.8%, while real gross domestic income growth reached 13.2%, a significant disparity that indicates the boost in purchasing power from rising chip prices far exceeds the growth in actual output. He noted 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. This could ultimately support luxury consumption and real estate demand. "Looking back at history, such funds have repeatedly flowed into the real estate market, and it is difficult to assume this cycle will be any different," he said.