President Lee Jae-myung said today (July 13), "Thanks to the semiconductor boom sparked by the artificial intelligence (AI) revolution, we expect to see unprecedented additional tax revenue," adding, "We will utilize this large-scale additional revenue as a source for strategic investments to prepare for the future."

In his opening remarks at the National Fiscal Strategy Meeting presided over at the Blue House, President Lee said, "Next year's budget must carefully include measures to support the bold dream of an 'irreplaceable Republic of Korea.' To this end, I would like to propose three principles," and mentioned the utilization of additional tax revenue as the first.

Specifically, he introduced, "We will establish a Future Response Fund to concentrate investments in three major areas that will determine the nation's future: the future, youth, local regions, and education."

President Lee explained, "This additional tax revenue is a precious resource to be used during the golden time when global AI hegemony is being decided. To increase economic growth potential and return the fruits to all citizens, we need a strategic investment platform that guarantees bold and continuous investment. The Future Response Fund will perform that function and serve as a stepping stone to achieve a great leap forward together with future generations."

As the second principle, he stated, "We will turn the 'three mega projects' announced by the government into new opportunities for our economy," and added, "We will mobilize all government capabilities to provide intensive support so that investments in semiconductors, physical AI, and AI data centers can be carried out according to the companies' schedules."

He also promised, "The stable supply of essential resources, such as electricity and water, is fundamental. We will create new growth hubs for the Republic of Korea by expanding transportation, logistics, and infrastructure, improving residential, educational, medical, and cultural living conditions, and establishing a foundation for innovation."

For the third and final principle, he emphasized, "We will build a Republic of Korea where no one is left behind through 'growth for all'."

President Lee said, "We will prepare a support system that covers the entire life cycle for young people taking their first steps into society, from jobs to housing and asset formation," and added, "We will strengthen the social safety net to the level of a 'social safety mat' so that atypical workers, who will inevitably increase in the AI era, can be protected without any gaps."

(Photo: Yonhap News)