{
  "id": 12761619,
  "title": "Budget minister calls for 'virtuous cycle' of spending, growth and tax revenue",
  "url": "https://urgent.news/2026/10/08/budget-minister-calls-for-virtuous-cycle-of-spending-growth-and-tax",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-08T02:12:03.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times",
    "url": "https://www.koreatimes.co.kr/economy/20261008/budget-minister-calls-for-virtuous-cycle-of-spending-growth-and-tax-revenue"
  },
  "original_language": "en",
  "account": "Korea's budget minister emphasized Thursday the necessity of creating a \"virtuous cycle\" involving proactive fiscal spending, economic expansion, and increased tax revenue. The government's planned Future Fund could play a pivotal role in realizing this objective, according to Budget Minister Park Hong-geun. During a parliamentary audit at the National Assembly, Park discussed the ministry's strategy for implementing proactive and efficient fiscal management to prepare the foundation for growth.\n\nPark stated, \"We will establish a virtuous cycle in which proactive fiscal spending drives growth, which in turn generates higher tax revenue.\" He further added, \"We will boldly overhaul spending structures to ensure the sustainability of the country's public finances.\" The Future Fund, slated to be introduced next year, will utilize windfall tax revenue derived from the semiconductor boom for investments aimed at fostering sustainable economic growth.\n\nThe government defines windfall revenue as tax receipts surpassing their long-term trend due to structural economic factors.",
  "summary": "Korea's budget minister on Thursday stressed the need to establish a \"virtuous cycle\" of proactive fiscal spending, economic growth and higher tax revenue, noting the government's proposed Future Fund could play a key role in achieving this goal. Budget Minister Park Hong-geun made the remarks during a parliamentary audit at the National Assembly, outlining the ministry's vision for pursuing…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Yonhap News",
        "title": "Budget minister calls for 'virtuous cycle' of spending, growth and tax revenue",
        "url": "https://urgent.news/2026/10/08/budget-minister-calls-for-virtuous-cycle-of-spending-growth-and-tax-12761680",
        "published": "2026-10-08T01:44:02.000Z"
      },
      {
        "outlet": "The Korea Times",
        "title": "Budget minister calls for 'virtuous cycle' of spending, growth and tax revenue",
        "url": "https://urgent.news/2026/10/08/budget-minister-calls-for-virtuous-cycle-of-spending-growth-and-tax-12764840",
        "published": "2026-10-08T02:27:03.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}