S. Korea to launch 'Future Fund' with 'windfall revenue' amid chip boom

The Korea Times

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Korea will launch the "Future Fund" to promote long-term economic growth, using what the government calls "windfall revenue" from increased tax collection driven by the recent artificial intelligence (AI) boom, the budget ministry said Friday. The Ministry of Planning and Budget unveiled the plan in partnership with relevant government agencies, saying the AI industry has sparked a major transition across various areas, from the economy to socia…

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The government announced on the 21st that it will establish a "Future Response Fund" next year by "gathering every last penny" of tax revenue exceeding initial expectations. Previously, the government had used excess tax revenue to repay government bonds or formulate supplementary budgets. The plan is to deposit the funds into the fund instead of spending them in the short term, and then invest them in future growth engines such as youth and reg…

연합뉴스-Yonhap News Agency

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(Sejong = Yonhap News) Reporter Lee Dae-hee = The reason the government decided to establish a 'Future Response Fund' is to [use] the additional tax revenue, which is certain to increase significantly next year, for the rebound in potential growth rate...