President Lee to establish 'future response' fund with extra tax revenue

During a Cabinet meeting, Lee emphasized the need for all-out efforts to stabilize prices and the property market, while simultaneously fostering innovative growth engines. He cited the country's remarkable export performance, particularly in semiconductors, as a key driver for current growth projections, with forecasts suggesting the real growth rate could reach 3 percent this year.

The call to increase the potential growth rate comes amid concerns that it may fall to a record low of approximately 1.5 percent next year if current trends persist. Projections even suggest it could decline to the zero percent range by the 2040s without intervention.

Lee described the second half of the year as critical for shaping the nation's economic future over the next three decades, urging accelerated 'grand economic transformation.' He also highlighted achievements from recent international engagements, including securing critical mineral supply chains and expanding cooperation in defense and cutting-edge industries.