President Lee Jae Myung announced on Monday that South Korea will establish a future response fund using extra tax revenue from the AI-driven semiconductor boom to invest in future industries and support younger generations.
The president made the remarks during a meeting on state financial strategies. He said, "Large-scale additional tax revenue will be used as strategic financial resources to prepare for the future."
The fund will invest in future industries, policies for young generations, regional development and education. The government will also push its "three megaprojects" initiative on schedule, including a semiconductor cluster in Gwangju.
Lee proposed a differentiated electricity pricing system that reflects supply and demand, but only if it does not increase the financial burden on the public.
