What did Moon Ji-sung tell Moody’s about Korea’s next year budget and Future Fund?

He said the government wants to pursue both growth and fiscal soundness through next year’s budget proposal. He also said the proposed Future Fund would prioritize strategic investment over one-off spending and help stabilize public finances.

Why is Korea linking the Future Fund to the semiconductor boom and AI growth?

Moon said the fund would be financed in part by windfall tax revenue from the global semiconductor upcycle driven by the AI boom. He presented it as a way to channel unexpected revenue into strategic investment rather than short-term spending.

How did Moody’s assess Korea’s fiscal and market policy efforts?

Moody’s said Seoul’s budget proposal seeks to balance fiscal soundness with efforts to secure future growth engines. It also welcomed steps to improve foreign investors’ access to foreign exchange and capital markets and supported efforts to promote the internationalization of the won.

Korea stresses growth, fiscal soundness during talks with Moody's

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Summary

The government briefed Moody’s on Korea’s economy and next year’s budget proposal in talks centered on growth and fiscal soundness. Moon Ji-sung told Maria Lee that the proposed Future Fund would use windfall semiconductor tax revenue for strategic investment and public-finance stability. Moody’s gave a positive assessment, saying the budget tries to balance fiscal soundness with future growth engines. The agency also welcomed efforts to improve foreign investors’ access to Korea’s markets and the internationalization of the won.

Key Facts

Moon Ji-sung met Maria Lee, a managing director at Moody’s, and discussed next year’s budget proposal and foreign investors’ access to Korea’s markets.
The proposed Future Fund would be financed in part by windfall tax revenue from the global semiconductor upcycle driven by the AI boom.
Moody’s praised Korea’s successful issuance of foreign exchange stabilization bonds and noted strong participation from major investors, including central banks of major economies and international organizations.

By Yonhap

Published Sep 8, 2026 3:24 pm KST

A screen displays the Moody's logo on the trading floor of the New York Stock Exchange (NYSE) in New York City, Aug. 21. Reuters-Yonhap

The government briefed global credit appraiser Moody's Corp. on the latest developments in the Korean economy and its efforts to pursue both growth and fiscal soundness through next year's budget proposal, the finance ministry said Tuesday.

Moon Ji-sung, deputy minister for international affairs at the Ministry of Finance and Economy, met with Maria Lee, a managing director at Moody's, and outlined the country's budget proposal for next year as well as efforts to improve foreign investors' access to its markets.

Moon highlighted the country's proposed Future Fund, which would be financed in part by windfall tax revenue from the global semiconductor upcycle driven by the artificial intelligence (AI) boom, saying it would prioritize strategic investment over one-off spending and help stabilize public finances.

In response, Moody's offered a positive assessment of Asia's fourth-largest economy, noting Seoul's budget proposal seeks to balance fiscal soundness with efforts to secure future growth engines.

The agency praised Korea's successful issuance of foreign exchange stabilization bonds, with Moon noting strong participation from major investors, including central banks of major economies and international organizations.

The appraiser also welcomed Seoul's efforts to improve foreign investors' access to its foreign exchange and capital markets, with Moon pledging to further lower barriers and promote the internationalization of the won.

The internationalization of the won aims to enable the currency to be freely held, traded and raised outside Korea.

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