South Korea to create chip-funded sovereign fund
South Korea plans to establish an investment fund based on the increasing tax revenues generated from the semiconductor industry, aiming to finance long-term projects that enhance economic growth and national competitiveness. The government will allocate the proceeds to support major national initiatives, create new economic drivers, reduce inequalities, and also bolster housing, startups, and youth employment opportunities. This move is part of the country's strategy to strengthen its position in advanced industries, especially following announcements from major companies like Samsung and SK Hynix to invest at least $880 billion in advanced technology.
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