Kang Hoon-sik, Chief of Staff to the President, announced on July 5 that the Yoon Suk-yeol administration plans to establish a Future Response Fund to utilize additional tax revenue for investments benefiting future generations.
Speaking at a high-level party-government meeting in Samcheong-dong, Jongno-gu, Seoul, Kang emphasized, "We must not waste the additional tax revenue generated by the semiconductor boom at this critical juncture that will determine the future of South Korea."
Kang explained that the fund would be created using the additional tax revenue to support three major projects aimed at generating future growth drivers, addressing K-shaped polarization, and providing housing, startup, and job support for the youth of 2030. He stated, "We aim to make bold investments in South Korea's future."
He added, "The establishment of the Future Response Fund will serve as a cornerstone for realizing an indispensable South Korea," urging cooperation between the ruling party and the government to expedite the initiative.
Kang further noted, "If the past year was a time for restoring normalcy and laying the foundation for national growth, the second year must focus on swiftly realizing an indispensable South Korea and delivering tangible results that the public can feel."
He pointed out that the three major projects would mark a historic starting point, stating, "These projects will signal a paradigm shift in balanced national development through public-private collaboration."
Kang emphasized the need to build world-class industrial clusters based on regional strengths, saying, "Just as Silicon Valley and the Texas semiconductor belt exist in the U.S., we must create an AI semiconductor innovation ecosystem that aligns with the industrial base and potential of each region, transcending the limitations of the capital region."
Speaking at a high-level party-government meeting in Samcheong-dong, Jongno-gu, Seoul, Kang emphasized, "We must not waste the additional tax revenue generated by the semiconductor boom at this critical juncture that will determine the future of South Korea."
Kang explained that the fund would be created using the additional tax revenue to support three major projects aimed at generating future growth drivers, addressing K-shaped polarization, and providing housing, startup, and job support for the youth of 2030. He stated, "We aim to make bold investments in South Korea's future."
He added, "The establishment of the Future Response Fund will serve as a cornerstone for realizing an indispensable South Korea," urging cooperation between the ruling party and the government to expedite the initiative.
Kang further noted, "If the past year was a time for restoring normalcy and laying the foundation for national growth, the second year must focus on swiftly realizing an indispensable South Korea and delivering tangible results that the public can feel."
He pointed out that the three major projects would mark a historic starting point, stating, "These projects will signal a paradigm shift in balanced national development through public-private collaboration."
Kang emphasized the need to build world-class industrial clusters based on regional strengths, saying, "Just as Silicon Valley and the Texas semiconductor belt exist in the U.S., we must create an AI semiconductor innovation ecosystem that aligns with the industrial base and potential of each region, transcending the limitations of the capital region."
* This article has been translated by AI.
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