South Korea Announces Future Response Fund on July 5, Using Semiconductor Tax Revenue

According to Yonhap Infomax, South Korea's presidential office announced on July 5 that the government will establish a Future Response Fund to support future growth drivers and address wealth inequality. The fund will be financed by additional tax revenue from the semiconductor boom, rather than surplus revenue. Presidential Secretary-General Kang Hoon-sik stated that the fund would support megaprojects and provide youth assistance in housing, entrepreneurship, and employment. The government plans to amend the National Finance Act and enact dedicated legislation to operationalize the fund, with the definition of "additional revenue" to be clarified through further inter-agency discussions.
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