Woofun AI reports that the South Korean Ministry of Trade, Industry and Energy formally denied rumors regarding plans to establish a government-led think tank for sharing chipmakers' profits. The ministry stated that claims of letters sent to Samsung Electronics and SK Hynix are completely false and warned that malicious spreaders will face strict measures and referral to investigative authorities.

The denial follows heightened domestic debate on utilizing tax revenue from historic chip profits to support long-term growth, including President Lee Jae-myung's suggestion of universal basic income subsidies.

Meanwhile, the KOSPI index closed down 2.04%, with SK Hynix falling 3.4% and Samsung Electronics dropping 5.84%.