Lee highlights tech fund for future growth as he seeks parliamentary support for record budget

President Lee Jae Myung highlighted the need for a proposed 162 trillion won ($120.5 billion) fund to be created to secure momentum for growth and ensure stable fiscal management, during his speech at the National Assembly, Monday. The so-called "future-oriented fund," backed by windfall tax revenue from the semiconductor boom, is part of next year’s record 820.9 trillion won budget which he sought parliamentary approval. Lee said the new fund would focus on four priorities — young people, future growth engines, regional economies, as well as education and talent development. He outlined related spending plans, including 21.3 trillion won for artificial intelligence (AI) and three megaprojects, along with 13.8 trillion won for 10 next-generation strategic technology fields, while pledging expanded welfare support to ensure the benefits of growth reach more people. “The new fund to respond to future challenges will provide a platform for strategic investment to boost the economy’s growth potential, and also a mechanism to keep public finances stable as tax revenue fluctuates more