The prosperity of the semiconductor industry has driven tax revenue beyond expectations, and South Korea plans to establish a 'Future Response Fund' to invest in areas such as youth and AI
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Author:小编   

On August 21, the Ministry of Economy and Finance of South Korea issued a statement saying that driven by the boom in the semiconductor industry, South Korea's tax revenue has grown beyond expectations, and it is expected to increase significantly next year as well. The South Korean government plans to establish a 'Future Response Fund' to make strategic investments using this additional tax revenue and ensure fiscal stability. The statement pointed out that the South Korean government has identified four priority investment areas: youth, growth engines (covering artificial intelligence and advanced technologies), regional development, and education and talent. In addition, the government also plans to reform the local education finance allocation mechanism, linking it to economic growth rates and changes in the school-age population, with funds to be redistributed to early childhood education, higher education, and adult education sectors.

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