The government plans to establish a new fund to effectively invest windfall tax revenue generated by the semiconductor industry’s artificial intelligence (AI)-driven boom, presidential chief of staff Kang Hoon-sik said Sunday. He explained that the fund is intended to finance future priorities and challenges, including the government’s three industrial megaprojects unveiled last week, as well as support for people in their 20s and 30s. “We must not spend the additional tax revenue resulting from the semiconductor upturn carelessly at this critical moment that will determine Korea’s future,” Kang said during a high-level meeting between the government and the ruling Democratic Party of Korea (DPK) at the prime minister’s official residence in Seoul. He went on to say the Lee Jae Myung administration plans to establish what he called a “future response fund” to use additional tax revenue as a “source of investment for future generations.” “The creation of the future response fund will lay the foundation for realizing an ‘irreplaceable Korea,’” he added, calling for close cooper
