Budget minister calls for 'virtuous cycle' of spending, growth and tax revenue

What happened: South Korea's budget minister, Park Hong-geun, told a parliamentary audit that the government will pursue a "virtuous cycle" of proactive fiscal spending, growth and higher tax revenue, calling the proposed Future Fund a key tool. Key numbers: The Why it matters: The fund would channel windfall tax revenue from the semiconductor boom into investments in young people, growth engines, regional economies, education and talent development, rather than spending it within a single year. Park also cited aging population burdens and regional, generational and income disparities.

South Korea's budget minister, Park Hong-geun, told a parliamentary audit that the government will pursue a "virtuous cycle" of proactive fiscal spending, growth and higher tax revenue, calling the proposed Future Fund a key tool.

The fund would channel windfall tax revenue from the semiconductor boom into investments in young people, growth engines, regional economies, education and talent development, rather than spending it within a single year. Park also cited aging population burdens and regional, generational and income disparities.