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.
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President Lee Jae Myung has proposed 21.3 trillion won for artificial intelligence and semiconductors in the 2027 budget, roughly double the 2026 amount.
South Korea's October exports reached $115.28 billion, up 93.7% year on year, with semiconductor shipments rising 259%, according to the industry ministry.
Incheon was chosen for the Interior Ministry's AI champion consulting and will open a 2027 course training 120 municipal staff in AI.
Chungju signed an investment agreement with Seoul Dynamics, which will invest 20 billion won in a plant for AI-based autonomous forklifts.
CJ Logistics won a 315 billion won contract to build a 50 MW AI data center in Ansan for KT Cloud, due in 2029.
South Korea's Fair Trade Commission is collecting comments until 11 November on draft guidelines governing advertising that refers to artificial intelligence.