Park Hong-geun, the Minister of the Office for Government Policy Coordination, announced plans to establish a "Future Response Fund" that will focus on investing in the youth, growth drivers, local areas, and talent, utilizing additional tax revenue generated from the semiconductor boom.
On July 14, during a joint briefing on the "2026 Second Half Economic Growth Strategy," Minister Park stated, "Despite domestic and international crises, including the Middle East conflict, the government swiftly prepared and executed a supplementary budget of 26.2 trillion won in the first half of the year, solidifying the momentum for economic growth recovery through a joint emergency economic response system."
He emphasized, "We are at a crossroads where we must overcome K-shaped polarization while securing new growth drivers amid a global AI transformation. This is a golden time to turn crises into opportunities, and we will mobilize all available means to support the second half of the economic growth strategy."
Park also mentioned, "We will accelerate the implementation of three major mega-projects and regional support packages to ensure that the benefits are felt quickly on the ground. We will reassess the outcomes of all projects from the ground up and improve the fundamental structure of finances through rigorous expenditure restructuring, going beyond mere trimming of excess."
Additionally, he stated, "We will begin to innovate mandatory expenditures, which have been considered untouchable in past restructuring efforts, by reforming education grants to reflect environmental changes and enhance investment stability. To overcome K-shaped polarization, we will intensify local preference projects and expand tailored support for youth in job creation and asset formation, while closely monitoring living costs and stabilizing small businesses."
On July 14, during a joint briefing on the "2026 Second Half Economic Growth Strategy," Minister Park stated, "Despite domestic and international crises, including the Middle East conflict, the government swiftly prepared and executed a supplementary budget of 26.2 trillion won in the first half of the year, solidifying the momentum for economic growth recovery through a joint emergency economic response system."
He emphasized, "We are at a crossroads where we must overcome K-shaped polarization while securing new growth drivers amid a global AI transformation. This is a golden time to turn crises into opportunities, and we will mobilize all available means to support the second half of the economic growth strategy."
Park also mentioned, "We will accelerate the implementation of three major mega-projects and regional support packages to ensure that the benefits are felt quickly on the ground. We will reassess the outcomes of all projects from the ground up and improve the fundamental structure of finances through rigorous expenditure restructuring, going beyond mere trimming of excess."
Additionally, he stated, "We will begin to innovate mandatory expenditures, which have been considered untouchable in past restructuring efforts, by reforming education grants to reflect environmental changes and enhance investment stability. To overcome K-shaped polarization, we will intensify local preference projects and expand tailored support for youth in job creation and asset formation, while closely monitoring living costs and stabilizing small businesses."
* This article has been translated by AI.
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