"Investing in the Future with Additional Tax Revenue"... Next Year's Total Spending to Exceed 800 Trillion Won

[Anchor]

President Lee Jae-myung announced that he will create a Future Response Fund using the additional tax revenue expected from the semiconductor boom to use as a source for strategic investments. The government has signaled a record-high total expenditure of over 800 trillion won for next year.

Reporter Park Yerim reports.

[Reporter]

Presiding over the National Fiscal Strategy Meeting today (July 13), President Lee Jae-myung officially announced the establishment of a Future Response Fund, stating that he would utilize the large-scale additional tax revenue expected from the semiconductor boom as a source for strategic investment.

[President Lee Jae-myung: We will establish a Future Response Fund to focus investments on four major areas that will determine the nation's future: the future, youth, local regions, and education...]

He also pledged the government's intensive support for the three major mega-projects, including semiconductors, AI data centers, and physical AI.

[President Lee Jae-myung: Stable supply of power and water is fundamental, and we will create new growth hubs for the Republic of Korea by establishing residential conditions and innovation infrastructure.]

Park Hong-keun, Minister of Planning and Budget, stated at the meeting that national tax revenue for next year is expected to exceed the initial forecast of 412 trillion won, reaching an all-time high of over 500 trillion won. He also presented the direction for next year's fiscal management, including the largest-ever total expenditure plan.

[Park Hong-keun, Minister of Planning and Budget: We will set the total expenditure for 2027 at 800 trillion won plus alpha, an increase of more than 10% compared to the 2026 main budget, which will be the largest scale in history.]

The meeting also included discussions on power supply plans for semiconductor complexes and AI data centers. Kim Sung-hwan, Minister of Climate, Energy and Environment, announced that after gathering public opinion, the government would decide whether to introduce new nuclear power plants and small modular reactors (SMRs) and reflect them in the 12th Basic Plan for Electricity Supply and Demand, officially confirming the review of additional nuclear power plants.

Meanwhile, upon hearing that residential electricity rates are cheaper than industrial rates, President Lee suggested that "if there is no burden on inflation, we are in a situation where we need to adjust residential electricity rates," and proposed a policy discussion that takes into account the burden on the public.

(Video coverage: Jung Sang-bo, Yoon Hyung | Video editing: Park Sun-soo)
※ Please note: This article was translated by AI and may contain errors.