Korea to Turn Chip Tax Windfall Into Up To 70 Trillion Won Future Fund

Park Hong-keun, Minister of Planning and Budget, answers questions from reporters during a joint briefing on reforms to local education subsidies at the Seoul Government Complex in Jongno-gu, Seoul, on Aug. 21. South Korea will establish a new "Future Response Fund" to use tax revenue generated by the semiconductor boom as seed capital for strengthening national competitiveness. The government…