South Korea plans to establish a "Future Response Fund" using tax revenue from the booming semiconductor industry, as announced by Kang Hoon-sik, Chief of Staff to the President. The fund aims to invest in economic growth engines, support the younger generation, and address social inequality. It will provide financial backing for major national projects and enhance the country's long-term competitiveness.
The initiative is part of President Lee Jae-myung's vision to make South Korea "globally irreplaceable." The fund will support three major "super projects," foster new growth drivers, and tackle economic polarization. It will also offer housing, entrepreneurship, and employment support for individuals aged 20 to 39. Kang emphasized the importance of utilizing the additional tax revenue effectively at this critical juncture.
South Korea to Launch Future Fund with Chip Industry Tax Revenue
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