South Korea will create a fund from chip revenues to stimulate growth and combat inequality

During a meeting between the Government and the Democratic Party, the head of the South Korean President's Office, Kang Hoon Sik, announced that President Lee Jae Myung's administration will use the "Future Response Fund" to support large national investment projects. Kang emphasized the importance of utilizing the additional tax revenues generated by the semiconductor boom to avoid waste. The fund will support three "megaprojects," create new growth engines, and address economic polarization.

It will also provide support for housing purchases, startups, and youth employment. President Lee recently revealed projects focused on semiconductors and artificial intelligence, backed by massive investments from large companies. Prime Minister Han Sung-sook highlighted the need for collaboration between the government, the party, and the private sector to turn these initiatives into a long-term growth engine. The leader of the Democratic Party's parliamentary group promised legislative support for the rapid implementation of the projects.