AI. South Korea plans record investment for 2027

The South Korean President announced a record investment of 21.3 trillion won in AI and semiconductors for the 2027 budget. This amount is nearly double the current year's funding. The government plans to allocate 4.7 trillion won specifically 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 73.3 trillion won, focusing on enhancing military capabilities with nuclear submarines and advanced fighter jets. South Korea aims to triple its AI spending to compete with the US and China in this sector, with major companies like Samsung and SK hynix leading in memory chip production.