South Korea plans to channel additional tax revenue generated by its booming semiconductor industry to invest in new growth engines.
A top government official on Sunday said the aim was to support younger generations and address widening inequality, the Yonhap news agency reported.
Why is South Korea creating a future fund?
Presidential Chief of Staff Kang Hoon-sik said the "Future Response Fund" would help finance major national investment projects and strengthen the country's long-term competitiveness.
Speaking at a meeting between the government and the ruling Democratic Party, Kang said South Korea should not "squander" the extra tax revenue generated by the semiconductor boom.
