This photo provided by the Ministry of Planning and Budget shows Budget Minister Park Hong-keun speaking during an event in Seoul on Thursday. (Yonhap) South Korea's budget minister on Monday discussed fiscal policy directions with experts amid the country's robust tax revenue growth driven by the artificial intelligence boom.Budget Minister Park Hong-keun met with fiscal experts from academia as the country has seen a sharp increase in tax revenue from technology companies. Tax revenue reached 164.1 trillion won ($106 billion) in the January-April period, up 21.9 trillion won from a year earlier."While the South Korean economy is maintaining solid momentum, uncertainties are higher than ever, including over whether the current conditions of the semiconductor industry will continue, as well as future trends in tax revenue, inflation and interest rates," Park said.Park added fiscal policy should help address the country's key challenges, namely industrial transformation, demographic decline, polarization, and concerns regarding regional extinction and climate change.During the meeting, experts said South Korea should make proactive investments to strengthen the country's growth potential by utilizing the expected surge in tax revenue this year and 2027.The experts stressed the need for greater investment in the AI sector and semiconductor infrastructure, along with ways to save and manage part of the increased tax revenue for future spending. (Yonhap)
Budget minister discusses policy direction with experts amid sharp tax gains
South Korea's budget minister on Monday discussed fiscal policy directions with experts amid the country's robust tax revenue growth driven by the artificial in








