Seoul to finance AI-era growth with fund drawn from chip tax windfall

The Lee Jae Myung administration plans to create a new investment fund financed by a tax windfall from the semiconductor boom.

The proceeds will be channeled into artificial intelligence, advanced manufacturing and other long-term growth projects, according to the presidential office.

"The government seeks to establish a 'future response fund' so that additional tax revenue can be used as investment resources for future generations," Presidential Chief of Staff Kang Hoon-sik said during the nint ...