▲ This undated file photo, provided by the Ministry of Planning and Budget, shows its sign in the central city of Sejong on March 19, 2026. (Yonhap)

By Kang Yoon-seung

SEOUL, Oct. 2 (Yonhap) -- The chief economist of the Organization for Economic Cooperation and Development (OECD) has described South Korea's proposed Future Fund that aims to promote sustainable growth using tax gains from the chip industry as "a wise policy choice," the budget ministry said Friday.

OECD Chief Economist Stefano Scarpetta made the remark during a meeting with Vice Budget Minister Cho Yong-beom in Paris on the margins of the 14th Korea-OECD International Forum on Budgeting held this week, according to the Ministry of Planning and Budget.

The Future Fund, which the government plans to launch next year, will channel windfall tax revenue from the semiconductor boom into investments aimed at promoting sustainable economic growth.

The government defines "windfall revenue" as tax earnings exceeding their long-term trend due to structural economic changes or significant economic fluctuations, such as an industrial supercycle.

According to the budget ministry, Scarpetta assessed the plan as "a wise policy choice," sharing the view that the fund will contribute to easing volatility in government revenue and promoting strategic investment projects.

The economist noted Ireland and Norway operate similar programs for future generations.

During the meeting, Cho also briefed Scarpetta on South Korea's three megaproject initiatives, as well as investment plans under the Strategic Emerging Engines for Disruptive Innovation (SEED) program, which covers such areas as small modular reactors (SMRs), nuclear fusion and renewable energy.

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