South Korea plans to establish a future fund using tax benefits from the chip industry.

BlockBeats News, July 5th – South Korean Presidential Chief of Staff Kang Hoon-sik said on Sunday that the government plans to use the additional tax revenue generated by the booming semiconductor industry to establish a future fund. This fund will be used to invest in engines of economic growth, support the younger generation, and address growing social inequality. The government will leverage the "Future Response Fund" to provide financial support for major national investment projects and enhance the country's long-term competitiveness. Kang Hoon-sik stated: "At this critical juncture that determines Korea's future, we must not waste the additional tax revenue brought by factors such as the semiconductor boom."

He pointed out that the fund will be used to support the government's three major "super projects," cultivate new growth drivers, address what he calls the "K-shaped" economic polarization, and provide housing, entrepreneurship, and employment support for people aged 20 to 39. The proposed fund is a cornerstone for realizing President Lee Jae-myung's goal of "making Korea irreplaceable on a global scale," and urges the government to work closely with the ruling party to move forward quickly. (Jin Shi)