Key facts
- President Lee Jae Myung announced the creation of a "future response fund."
- The fund will utilize extra tax revenue derived from the semiconductor industry's strong performance.
- The initiative aims to strategically invest in future industries.
- The fund will also support policies targeted at younger generations.
President Lee Jae Myung stated on Monday that the government intends to establish a "future response fund." This fund will be capitalized by anticipated additional tax revenues stemming from the current semiconductor industry boom. The president indicated that these funds will serve as strategic financial resources for future preparation, with a focus on investing in emerging industries and implementing policies beneficial to younger generations. The remarks were made during a meeting concerning state financial strategies, highlighting the government's plan to leverage the record earnings of chipmakers, driven by the AI semiconductor surge, to bolster future economic growth and support for youth.