PPP Slams Blue House Over Bloomberg News Complaint as an "Arrogant View of the Press"

[Financial News] The People Power Party criticized the Blue House for formally protesting to Bloomberg News over its report interpreting Kim Yong-beom's proposal for a "Universal Basic Dividend" as a distribution of "excess profits" from artificial intelligence-related companies, calling it an "arrogant view of the press that intimidates the media."
Jang Dong-hyuk, leader of the People Power Party, wrote on his social networking service (SNS) account on the 16th, "President Lee Jae Myung must feel very wronged. He even demanded a formal apology from Bloomberg," adding, "This is not a fight with the media. The people who are truly wronged are investors who suffered losses and the public."
Jang said, "Kim Yong-beom used the terms 'excess profits' and 'Universal Basic Dividend' several times. He even presented the Government Pension Fund Global as a model," and added, "No matter how much they insist it was a misunderstanding, their true intent is clear."
He argued, "The media are busy deleting articles at President Lee's slightest remark. By the end of the year, there are even eerie rumors circulating that several comprehensive programming channels may shut down or may not," and claimed that "South Korea has become a truly frightening country."
Park Choong-kwon, chief spokesperson of the PPP Central Election Countermeasures Committee, also issued a commentary that day, saying, "The government, which has silenced the domestic media, is now crossing borders and demanding apologies from foreign outlets while performing an 'arrogant sword dance.'" He described it as "the arrogance of power that seeks to suppress legitimate concerns by branding them as malicious manipulation."
Park added, "Throwing out a reckless message and then blaming foreign media by saying it was 'excess tax revenue' rather than 'excess profits' is a petty word game," and said that "shifting responsibility in such a shameless way will only invite ridicule from global capital markets."
On the 15th, The Blue House sent Bloomberg News an official protest letter expressing "serious concern" over Kim Yong-beom's report on the "Universal Basic Dividend."
Bloomberg had reported that Kim, in a post on his SNS on the 12th, raised the idea of a Universal Basic Dividend while discussing how to distribute excess tax revenue, including higher corporate tax receipts driven by the AI boom, and interpreted it as a distribution plan that would use excess profits from private companies.
In response, The Blue House emphasized that Kim had never proposed a distribution plan that would recover private-sector earnings. It said the Bloomberg report conveyed inaccurate information, caused confusion in the market, and ultimately had a negative impact on stock market indices, which is why it sent the letter demanding an apology.
gowell@fnnews.com Kim Hyung-koo Reporter