Seoul, June 8 -- The President of South Korea Lee Jae Myung on Monday said excess tax revenue from the semiconductor boom should be used for long-term investments to boost growth, while taking a cautious stance on calls for companies to share excess profits with workers, according to a news report by The Korea Herald.

During a press conference marking the first anniversary of his inauguration at Cheong Wa Dae in Seoul, Lee said that excess tax revenue could fluctuate depending on economic conditions and should therefore be used for future generations and to strengthen the country's growth potential.

"It should be invested in a direction that raises South Korea's growth potential," the news report quoted Lee. "That means discovering new ...