South Korean presidential chief of staff Kang Hoon-sik said the government plans to use additional tax revenue from the semiconductor boom to establish a Future Fund to finance major national investment projects, bolster long-term competitiveness and support 20–39-year-olds with housing, entrepreneurship and employment measures. Kang said the fund will back the government's three "super projects", address K-shaped economic polarization and serve as a cornerstone of President Lee's drive to make

Germany plans to increase 2027 net new borrowing to EUR118.0bn (about $135bn), roughly 7% above April projections, a finance ministry official said. The rise reflects weaker-than-expected tax receipts, higher interest rates raising debt-servicing costs, and additional funding needs at the Federal Employment Agency for unemployment benefits. Chancellor Friedrich Merz and Finance Minister Lars Klingbeil have proposed a reform package covering pensions, healthcare and taxes; the cabinet is expected to approve the package and the 2027 budget on Monday.

Authorities in France's Pyrénées-Orientales said a wildfire continued to spread, prompting evacuation orders affecting about 10,000 people. Officials said the blaze in the Trévillach area has burned roughly 1,650 hectares and is threatening the town of Bouleternère. Organizers said Stage 3 of the Tour de France on the 6th will go ahead with a modified route and no spectators allowed.