(LEAD) S. Korea to launch 'Future Fund' with 'windfall revenue' amid chip boom
SEOUL, Aug. 21 (Yonhap) -- South Korea will launch the "Future Fund" to promote ...
South Korea is set to launch the Future Fund, aiming for long-term economic growth, according to the government's budget ministry. This new fund will utilize windfall revenue from increased tax collection due to the AI boom and the global chip boom, as reported by Yonhap news agency. The Future Fund will be managed as a strategic investment platform to enhance South Korea's potential growth rate and counteract the volatility of tax revenues.
The ministry emphasized the need to proactively utilize the fiscal capacity to lead in technological competitiveness. While the exact size of the Future Fund remains undisclosed, analysts estimate it could range from 60 trillion won to 100 trillion won, based on the current industrial cycle. Additionally, South Korea plans to overhaul its education budget allocation mechanism to better address the declining student population and bolster higher education.
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Also reported by 1 other outlet
- Korea to launch 'future fund' with 'windfall revenue' amid chip boom koreatimes.co.kr
