Vice budget minister calls Future Fund 'fiscal innovation' for future growth
SEOUL, Oct. 22 (Yonhap) -- South Korea's vice budget minister said Thursday the ...
South Korea's Vice Budget Minister Cho Yong-beom hailed the upcoming Future Fund as a "fiscal innovation" that will drive future growth, during a policy symposium in Seoul. The proposed fund, set to launch next year, will utilize funding sources such as windfall tax revenue from semiconductor manufacturers. Cho emphasized that the fund aims to serve as a platform for strategic investment and a fiscal stabilization mechanism, transforming windfall revenues into opportunities for the future.
Cho stressed that the government will manage the fund with utmost care and transparency, enabling regional and central governments, as well as current and future generations, to contribute to its development. The Future Fund will comprise a general account for managing its financial resources, along with four specialized program accounts dedicated to youth, growth engines, regional development, and education and talent development.
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