South Korea plans record investment in AI and semiconductors for 2027

South Korea plans a record investment of 21.3 trillion won in AI and semiconductors for 2027, nearly doubling this year's budget. President Lee Jae-myung announced this during a parliamentary speech, emphasizing support for advanced AI development projects. The total budget proposal reaches 821 trillion won, marking a 12.8% increase from 2026. Additionally, defense spending will rise by 8.2% to enhance military capabilities with nuclear submarines and advanced fighter jets. South Korea aims to triple its AI spending to compete with the US and China, with Samsung and SK hynix leading in advanced memory chip production.