South Korea to Set Up ‘Future Fund’ with ‘Windfall Profits’ from Chip Industry Surge
3 day ago / Read about 0 minute
Author:小编   

On August 21, Yonhap News Agency reported that on Friday, South Korea’s Ministry of Economy and Finance declared its intention to establish a “Future Fund.” This fund aims to foster long-term economic growth by harnessing the “windfall profits” generated from taxes spurred by the artificial intelligence (AI) boom. The ministry emphasized that the advancements in the AI sector have surpassed mere technological revolutions, instigating profound shifts across various domains, including economic and social systems. Propelled by the global chip industry surge, a substantial increase in corporate tax is anticipated, which is expected to significantly bolster domestic tax revenue. South Korea intends to capitalize on this fiscal strength to secure a vanguard position in the global technology race. The “Future Fund” will act as a strategic investment vehicle to elevate South Korea’s potential economic growth trajectory.

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