South Korea to double spending on AI and chips in 2027
The country is a tech powerhouse home to Samsung Electronics and SK hynix, two of the world's three biggest makers of memory chips.
SEOUL: President Lee Jae Myung announced that South Korea plans to double its spending on artificial intelligence and semiconductor technologies in 2027 to a record US$16 billion. The tech powerhouse, home to Samsung Electronics and SK hynix, the world's top two memory chip manufacturers, will allocate 21.3 trillion won to semiconductor, AI and AI data centers, as well as AI investments, nearly double the current amount, according to Lee's annual budget speech.
The government will invest 4.7 trillion won to support frontier AI development projects to achieve world-leading AI model performance, a national strategic asset. Overall, the 821 trillion won budget proposal, a 12.8% increase from this year, seeks to strengthen South Korea's economic growth potential and military capabilities, with plans for nuclear-powered submarines, KF-21 fighter jets, and AI-integrated military systems.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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