Korea builds 'fiscal reservoir' for chip tax windfall, rewrites school funding

South Korea unveiled plans Friday to create a new fiscal fund that will channel tax revenue generated by the semiconductor boom into long-term investment while serving as a buffer against future revenue downturns. The Future Response Fund will invest in youth, new growth engines, regional development, education and talent, while accumulated reserves can be tapped when tax revenue weakens. The plan also includes the first major overhaul of local education funding in more than half a century, aime