South Korea plans to set up a future fund using tax dividends from the chip industry.

Mars Finance News, on July 5, the chief of staff of the South Korean Presidential Office, Kang Hoon-sik, said on Sunday that the government plans to use additional tax revenue brought by the semiconductor industry boom to set up a Future Fund for investing in economic growth engines, supporting the younger generation, and addressing increasingly severe social inequality.

The government will use the “Future Response Fund” to provide funding support for major national investment projects and strengthen the country’s long-term competitiveness. Kang Hoon-sik said, “At this critical juncture that will determine Korea’s future, we must not waste the additional tax revenue generated by factors such as the semiconductor boom.” He added that the fund will be used to support the government’s three major “super projects,” foster new growth drivers, address what he described as 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 implementing President Lee Jae-myung’s goal of “making Korea irreplaceable globally,” and he urged the government to work closely with the ruling party and advance it quickly. (Jin Shi)