South Korea Unveils Record 2027 Budget Focused on AI and Defense Spending
The South Korean government has proposed a record 821 trillion won budget for 2027, prioritizing massive investments in artificial intelligence, cybersecurity, and defense modernization. Lawmakers will also allocate substantial funds from semiconductor tax revenues to support long-term economic growth.
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South Korea Plans Up to 222.8 Trillion Won in 2027 Bond Issuance
South Korea plans to issue up to 222.8 trillion won ($162.7 billion) of bonds in 2027, a total near this year’s record, as President Lee Jae Myung pushes his expansionary fiscal agenda.
By Hooyeon Kim and Jaehyun Eom
Read full article →South Korea sets record US$600 billion budget, backed by chip windfall
South Korea on Tuesday unveiled its most aggressive financial spending plan on record, setting total government expenditure for 2027 at 821 trillion won (US$600 billion) to strengthen the country’s technological edge amid the global AI race. In its annual budget proposal, the budget ministry said the spending plan represented a 12.8 per cent rise from 2026, marking the largest year-on-year increase in the country’s history. The proposal signals a shift in Asia’s fourth-largest economy under...
By Reuters
Read full article →Science ministry seeks record budget to fund AI, future growth engines
SEOUL, Sept. 1 (Yonhap) -- The science ministry said Tuesday it will seek a reco...
By Kang Jae-eun
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