South Korea's Ruling Party, Government to Fund Future Investments with Semiconductor Tax Revenue
L'essentiel
South Korea's ruling Democratic Party and government agreed to use additional tax revenue from the semiconductor boom to create a future response fund, investing in young generations, regional development, and 'three megaprojects' including semiconductors and AI under next year's budget plan.
Résumé généré par IA
Pourquoi c'est important
The ruling Democratic Party and the government agreed to allocate additional tax revenue, stemming from a semiconductor boom, to a future response fund for young generations and regional development. President Lee Jae Myung previously announced a record-high budget for next year.
SEOUL, July 21 (Yonhap) -- The ruling Democratic Party (DP) and the government agreed Tuesday to use additional tax revenue to invest in young generations and regional development under next year's budget plan.
The two sides reached the agreement during a high-level consultative meeting on the 2027 budget at the National Assembly, saying the government expects a sharp increase in tax revenue thanks to record earnings by semiconductor companies.
"We are expecting an unprecedented increase in tax revenue on the back of the prolonged semiconductor boom," Park Hong-keun, minister of planning and budget, said. "We will create a future response fund to reinvest in young generations, new growth engines, regional development and education."
Park vowed to provide active support for the government's recently announced the "three megaprojects" initiative envisioning large-scale investments in semiconductors, physical artificial intelligence (AI) and AI data centers.
President Lee Jae Myung earlier announced that the government will draw up a record-high budget of around 800 trillion won (US$540 billion) for next year, and use additional tax revenue expected from the ongoing semiconductor boom to create the so-called future response fund to invest in future industries, policies for young generations and regional development.
À surveiller
Perspective IA — des possibilités, pas des certitudes
The South Korean government will implement a record-high budget for next year, including a future response fund.
Très probable · En quelques mois
Investments will be made in semiconductors, physical AI, and AI data centers as part of the "three megaprojects."
Très probable · En quelques mois
Questions ouvertes
- How will the "future response fund" be specifically structured?
- What are the detailed plans for the "three megaprojects"?
