South Korea plans chip windfall fund to back youth, AI investment

SEOUL, – South Korea plans to create a new fund to channel tax windfalls from the country’s semiconductor boom into supporting younger generations and invest in future growth industries such as artificial intelligence, the budget ministry said on Friday.

The proposed “Future Response Fund” would finance programmes aimed at helping young people find jobs, buy homes and start families, while also supporting investments in AI, regional development and talent development, according to a ministry press release.