Seoul: President Lee Jae Myung announced on Monday plans to establish a "future response fund" utilizing additional tax revenue generated from the booming semiconductor industry. This initiative aims to invest in emerging industries and develop policies tailored for younger generations.
According to Yonhap News Agency, the statement was made during a state financial strategies meeting, where the president emphasized the government's expectation of increased tax revenue due to record-high earnings from chipmakers, fueled by the artificial intelligence (AI) semiconductor surge.
President Lee highlighted that the sizeable extra tax revenues would serve as strategic financial resources to secure the nation's future.