Korea has set up the Future Fund to take advantage of windfall revenues from the chip boom

ACCORDING TO THE KOREAN FEDERATION, ON FRIDAY, THE KOREA ENTERPRISE BUDGET OFFICE INDICATED THAT IT WOULD USE THE RECENT ARTIFICIAL INTELLIGENCE BOOM TO BOOST “UNFORESEEN REVENUES” FROM INCREASED TAX REVENUES TO SET UP “FUTURE FUNDS” TO PROMOTE LONG-TERM ECONOMIC GROWTH. THE SECTOR STATES THAT THE CHANGES BROUGHT ABOUT BY THE AI INDUSTRY HAVE GONE BEYOND A MERE TECHNOLOGICAL REVOLUTION AND ARE DRIVING A MAJOR TRANSFORMATION IN MANY AREAS, INCLUDING THE ECONOMIC AND SOCIAL SYSTEM, AND THAT “BROADLY DRIVEN BY THE GLOBAL CHIP BOOM, DOMESTIC TAX REVENUES ARE EXPECTED TO INCREASE SIGNIFICANTLY, DRIVEN BY THE GROWTH OF CORPORATE TAXES. WE NEED TO TAKE ADVANTAGE OF THE FINANCIAL CAPACITY ACQUIRED IN THE CURRENT SITUATION AS A VALUABLE RESOURCE TO TAKE THE LEAD IN GLOBAL TECHNOLOGICAL COMPETITION.” THE FUND WILL SERVE AS A STRATEGIC INVESTMENT PLATFORM AIMED AT RAISING THE POTENTIAL RATE OF ECONOMIC GROWTH IN KOREA。