Moon pushes 'profit-sharing' to counter inequality in Davos speech

SEOUL -- South Korean President Moon Jae-in warned against polarization and deepening inequality amid the pandemic in a speech to the World Economic Forum on Wednesday, suggesting a profit-sharing system as a way to narrow the gap between haves and have-nots.

Speaking during the online Davos Agenda meetings, Moon said his government has paid stimulus checks and offered employment subsidies but hopes to go further to help the less fortunate. Moon's Democratic Party is pressuring tech and platform companies to spread the wealth with small business owners.