SEOUL: South Korea plans to establish a future fund using extra tax revenue generated by a semiconductor boom to invest in growth engines, support for younger generations and efforts to address widening inequality, a top government official said on Sunday (Jul 5).<\/p>\n
Speaking at a meeting between the government and the ruling Democratic Party, Presidential Chief of Staff Kang Hoon-sik said President Lee Jae Myung’s administration would use the “Future Response Fund” to help finance major national investment projects and strengthen the country’s long-term competitiveness.<\/p>\n
“At this critical juncture that will determine South Korea’s future, we must not squander additional tax revenue generated by the semiconductor boom and other factors,” Kang said.<\/p>\n
He said the fund would support the government’s three “mega projects”, create new growth drivers, respond to what he described as “K-shaped” economic polarisation and provide housing, startup and employment support for people in their 20s and 30s.<\/p>\n
He called the proposed fund “a cornerstone” for realising Lee’s goal of making South Korea globally “irreplaceable” and urged close cooperation between the government and the ruling party to move quickly.<\/p>\n","protected":false},"excerpt":{"rendered":"SEOUL: South Korea plans to establish a future fund using extra tax revenue generated by a semiconductor boom…\n","protected":false},"author":2,"featured_media":744906,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101],"class_list":["post-744905","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/744905","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=744905"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/744905\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/744906"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=744905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=744905"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=744905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}