President Lee Jae Myung said Monday that the government will use additional tax revenue expected from the ongoing semiconductor boom to create a “future response fund” aimed at investing in future industries and policies for younger generations. The president made the remarks during a meeting on state financial strategies, as the country is expected to collect higher tax revenue thanks to chipmakers’ record high earnings driven by the artificial intelligence (AI) semiconductor boom. “Large-scale additional tax revenue will be used as strategic financial resources to prepare for the future,” Lee said, emphasizing that how the country uses such “precious resources” may determine its global leadership in the AI era. The so-called future response fund will be used to invest in future industries, policies for young generations, regional development and education, according to the president. “Through these investments, (the government) will help boost the economy’s growth potential and ensure that the fruits of (the AI boom) are returned to all people,” he said. Lee described the envisioned fun
Lee says will create ‘future response’ fund using extra tax revenue
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