The government will establish the Future Fund to channel semiconductor-driven tax windfalls into long-term investments, officials said Friday in Seoul. The fund is expected to reach at least 100 trillion won and will support young people, new growth engines, regional development, education and talent. The plan also overhauls local education and local government grant formulas tied to national tax revenue. Budget Minister Park Hong-geun said the fund is meant to boost potential growth while stabilizing public finances.
Budget Minister Park Hong-geun, center, speaks during a press briefing at Government Complex Seoul, Friday, announcing the establishment of the Future Fund and reforms to the education grant system. Education Minister Choi Kyo-jin is seen at right. Yonhap
The government is set to establish the “Future Fund,” channeling additional and excess tax revenue generated by the semiconductor boom into long-term investments aimed at strengthening the economy, officials said Friday.
The fund, estimated to reach at least 100 trillion won ($72.3 billion), will target four priority areas — supporting young people, developing new growth engines, promoting regional development and nurturing education and talent.
