반도체 호황에 미래대응기금 162조 조성…내년 58조 쓰고 104조 남겨둔다

South Korea has established a Future Response Fund worth 162 trillion won to invest the substantial tax revenues generated by the booming semiconductor industry for future growth. Out of this, 58 trillion won will be spent in the coming year, while the remaining 104 trillion won will be kept as a buffer. The fund's purpose is to allow for quick utilization of funds when needed, but its broad scope, unclear usage, and limited parliamentary oversight have raised concerns.

According to the 2027 budget, the Future Response Fund will be established at 162.3 trillion won starting next year. The fund will primarily focus on four areas: young people, growth dynamism, regional development, and education and talent. Unlike general accounting that applies to various government departments, this fund is designated for specific projects.

The primary source of funding is additional tax revenues, calculated as the difference between the expected tax income and the actual income when national income tax exceeds its ten-year average growth rate (6.2% from 2015-2025). The government plans to spend 45.4 trillion won on projects within the fund next year, including 13.3 trillion won for young people, 14.2 trillion won for growth dynamism, 15.3 trillion won for regional development and education, and 10.1 trillion won for education and talent.

In addition to these projects, 12.5 trillion won will be used to reduce the amount of new government bonds issued in 2027. This money will be transferred to the public pension fund (Public Pension Fund) and will reduce the amount of new government bonds issued by the fund. The remaining 104.4 trillion won will be kept as a reserve for future use in case of a tax shortfall.

The government believes that the future response fund is a strategic investment platform for productive expenditure during prosperous times and a corrective mechanism for economic downturns during downturns. However, some critics argue that the government's discretion in managing the fund's allocation could lead to excessive control and a lack of accountability.