According to relevant authorities, national tax revenue from January to April reached 164.1 trillion won, an increase of 21.9 trillion won compared to the previous year. This surge is largely attributed to the semiconductor boom and a strong stock market, which have driven up corporate taxes, securities transaction taxes, and income taxes. The number of corporate tax filings from semiconductor companies has increased, and the thriving stock market has also contributed to the rise in securities transaction taxes.
Given the unprecedented boom in the semiconductor market, there is a high likelihood of continued surplus tax revenue through the end of the year. The Ministry of Economy and Finance previously projected an additional 25.2 trillion won in surplus revenue during the supplementary budget process, and the potential for tens of trillions of won in additional surplus is growing.
In discussing the use of this record surplus, President Lee emphasized the importance of focusing on startups. During a Cabinet meeting and emergency economic review at the Blue House, he stated, "The South Korean economy is being restructured around advanced industries. One characteristic of advanced industries is that they create very few jobs, so we must concentrate on fostering startups."
He addressed Han Seong-sook, the nominee for Minister of SMEs and Startups, saying, "There are more participants than expected, and the enthusiasm is high, with many promising ideas. We need to increase the scale, intensity, and frequency of our support overall."
President Lee noted, "While increasing actual job opportunities may not be simple, we must continue to raise the proportion of startups. The U.S. economy has improved for various reasons, but one of the biggest factors is the high number of startups in advanced industries."
He added, "As we consider how to utilize the additional tax revenue, improving the startup environment is a significant part of securing growth potential. We need to be bold in increasing our support."
Kim Jeong-kwan, Minister of Trade, Industry and Energy, expressed the need to invest in industrial artificial intelligence (M.AX). Speaking to reporters the day before at the Government Sejong Center, he said, "In terms of industrial policy priorities, M.AX is crucial. Without M.AX, no industry can sustain growth and survival."
He further explained, "The specific applications could be in shipbuilding or automotive, but from the perspective of productivity and necessity, M.AX industrial policy is vital."
Additionally, he mentioned, "We are also exploring measures for resource security. While the importance of resource security is often highlighted during conflicts, the situation remains unresolved, and the atmosphere is changing. This short-term perspective is a chronic issue, and we must develop long-term strategies for resource security."
* This article has been translated by AI.
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