South Korea proposes record 2027 budget, doubling AI and chip spending
President Lee Jae Myung has proposed 21.3 trillion won for artificial intelligence and semiconductors in the 2027 budget, roughly double the 2026 amount.
By GennnAi··1 min read
The plan was presented on 2 November 2026. The sum equals about $15.8 billion. Total spending would rise 12.8% to 820.9 trillion won, which the government calls its largest ever. The funds are aimed at AI data centers and chips, according to reports on the speech. 4.7 trillion won is earmarked for a sovereign AI model. The budget remains a proposal, with approval expected by 2 December 2026.
Source: CNBC, published on November 2, 2026.