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President Lee Jae-myung salutes the national flag during a senior aides meeting held at the Blue House on July 2. From left are President Lee Jae-myung, Chief of Staff Kang Hoon-sik, Senior Secretary for Public Relations Sung Ki-hong, and Presidential Advisor for Fiscal Planning Ryu Deok-hyeon. / Courtesy of Yonhap News

The Blue House announced on July 7 that it aims to unveil a detailed blueprint by late August for the newly proposed "Future Response Fund," which will be financed by surplus tax revenues generated from the semiconductor industry boom.

Ryu Deok-hyeon, Presidential Advisor for Fiscal Planning, shared the timeline during an appearance on the Blue House's YouTube channel program, "Fact Mill."

"The government is required to submit next year's budget proposal by late August," Ryu said. "In the near term, we need to incorporate the specific details of the fund around the time the government budget is drawn up. Our goal is to prepare this swiftly."

He added, "The creation of this new fund will require passing special legislation. We plan to coordinate and communicate closely with the National Assembly to ensure all necessary legislative procedures are completed smoothly."

Previously, during a high-level party-government consultative meeting on July 5, the Blue House announced plans to establish the Future Response Fund using the semiconductor tax windfall to invest in future generations, secure national growth engines, and address economic polarization.

Ryu specified that the fund would target three "mega projects"—semiconductors, artificial intelligence (AI) data centers, and physical AI—while also funding initiatives to counter economic polarization, promote balanced regional development, and support youth.

"We face the critical historical task of reversing our declining growth potential, alongside the challenge of mitigating the deepening 'K-shaped' economic polarization despite that growth," Ryu noted. "We are also deeply considering regional balance, as revitalizing provincial areas is vital for the nation's survival. Furthermore, we must present a clear vision for the future of our youth and address education-related issues."

He explained that the Future Response Fund is being structured specifically to tackle these pressing structural challenges.

In addition, Ryu emphasized the administration's focus on generational support, stating, "We are preparing a massive package of youth policies. Comprehensive measures are necessary to address housing, employment, and the broader aspirations of the younger generation."

                                                                                                          Hong Sun-mi