Minister Park Hong-geun of the Ministry of Planning and Budget said regarding the future response fund to be created with "additional tax revenue" driven by the semiconductor boom, "Through an asset manager, we will invest surplus funds in places such as stocks and bonds where returns higher than market interest rates are generated."
Minister Park appeared on SBS "Joo Young-jin's News Briefing" on the 5th and explained the future response fund's management method in this way.
Minister Park presented two broad directions for managing the future response fund. Park said, "Some will be directly injected into strategic areas such as the growth generation and growth engines, regions, and education and talent, and the rest will be managed as financial assets."
Earlier, as an unprecedented semiconductor boom led to expectations of record tax revenue this year, the government said it would create a future response fund and invest it to raise the potential growth rate. It referred to the amount exceeding the long-term trend of revenue as the concept of "additional tax revenue," and said it would create a fund with it.
Regarding the size of the future response fund, Park said, "The exact size will be determined after the September tax revenue re-estimate and next year's revenue outlook come out," but added it "will be considerable in scale."
Meanwhile, Minister Park also reaffirmed the plan to reform the grant-in-aid (earmarked tax) for educational finance. Park said, "In the past 20 years, there were six years when the earmarked tax decreased from the previous year," and added, "Even if we reform the system, we will guarantee the existing upward trend of the earmarked tax." Park went on to say, "We will not simply cut resources for elementary and secondary education but will reallocate them to higher education, lifelong education, job transition training, and early childhood education."