South Korea plans to set up future fund with chip industry tax dividends

CoinFeed July 5 news, according to TheEdgeMalaysia report, South Korean Presidential Chief of Staff Kang Hoon-sik said on Sunday that the government plans to use additional tax revenue from the semiconductor industry boom to set up a future fund, which will be used to invest in economic growth engines, support the younger generation, and address increasing social inequality. The government will use the 'Future Response Fund' to provide financial support for major national investment projects and enhance the country's long-term competitiveness. Kang Hoon-sik said, 'At this critical juncture that will decide South Korea's future, we must not waste the additional tax revenue brought by factors such as the semiconductor boom.' Kang Hoon-sik pointed out that the fund will be used to support the government's three 'super projects', cultivate new growth drivers, address what he called the 'K-shaped' economic polarization, and provide housing, entrepreneurship, and employment support for people aged 20 to 39.