{
  "id": 17727587,
  "title": "South Korea to double spending on AI and chips in 2027",
  "url": "https://urgent.news/2026/11/02/south-korea-to-double-spending-on-ai-and-chips-in-2027",
  "topic": "ai",
  "section": "AI",
  "published": "2026-11-02T02:13:11.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/world/world/2026/11/1568803/south-korea-double-spending-ai-and-chips-2027"
  },
  "original_language": "en",
  "account": "Seoul, South Korea - President Lee Jae Myung announced in his annual budget speech that the country will double spending on artificial intelligence (AI) and semiconductors for 2027, reaching a record high of US$16 billion. The nation, home to Samsung Electronics and SK hynix, are among the world's three largest producers of memory chips, which are in high demand due to the AI boom. The budget allocates 21.3 trillion won (US$16 billion) for semiconductors, physical AI, and AI data centers, nearly double the current amount. Additionally, the government plans to invest 4.7 trillion won to support frontier AI development projects, aiming to achieve world-leading performance for their own AI model, a national strategic asset. The overall budget for 2027 totals 821 trillion won, a 12.8% increase from this year, making it the largest budget proposal on record. Lee now needs approval from parliament, which seems likely given his party's majority. In defense spending, the president aims for an 8.2% increase from this year, totaling 73.3 trillion won, to create a smart, elite military force based on AI, robots, and drones.",
  "summary": "SEOUL: South Korea will double spending on artificial intelligence and semiconductors in 2027 to a record high of US$16 billion, President Lee Jae Myung said Monday in his annual budget speech to parliament.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 10,
    "also_reported_by": [
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        "url": "https://urgent.news/2026/10/30/msia-receives-first-fa-50m-jet-from-south-korea",
        "published": "2026-10-30T06:59:00.000Z"
      },
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        "outlet": "Malay Mail",
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        "url": "https://urgent.news/2026/10/30/south-koreas-beloved-on-screen-dad-choi-bool-am-dies-at-87-after",
        "published": "2026-10-30T07:46:09.000Z"
      },
      {
        "outlet": "Straits Times Business",
        "title": "South Korea exports extend robust growth on AI-fuelled chip boom",
        "url": "https://urgent.news/2026/11/01/south-korea-exports-extend-robust-growth-on-ai-fuelled-chip-boom",
        "published": "2026-11-01T01:40:00.000Z"
      },
      {
        "outlet": "Business Recorder",
        "title": "South Korea exports nearly double in October on AI investment boom",
        "url": "https://urgent.news/2026/11/01/south-korea-exports-nearly-double-in-october-on-ai-investment-boom",
        "published": "2026-11-01T04:56:31.000Z"
      },
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "South Korea exports extend robust growth on AI-fuelled chip boom",
        "url": "https://urgent.news/2026/11/01/south-korea-exports-extend-robust-growth-on-ai-fuelled-chip-boom-17575654",
        "published": "2026-11-01T09:53:08.000Z"
      },
      {
        "outlet": "Qatar Tribune Business",
        "title": "South Korea exports nearly double on AI investment boom",
        "url": "https://urgent.news/2026/11/01/south-korea-exports-nearly-double-on-ai-investment-boom",
        "published": "2026-11-01T21:00:00.000Z"
      },
      {
        "outlet": "Economic Times Tech",
        "title": "South Korea's Lee vows to make bold AI investment in record budget push",
        "url": "https://urgent.news/2026/11/02/south-koreas-lee-vows-to-make-bold-ai-investment-in-record-budget-push",
        "published": "2026-11-02T02:58:33.000Z"
      },
      {
        "outlet": "Channel News Asia",
        "title": "South Korea’s president vows to make bold AI investment in record budget push",
        "url": "https://urgent.news/2026/11/02/south-koreas-president-vows-to-make-bold-ai-investment-in-record",
        "published": "2026-11-02T04:19:14.000Z"
      },
      {
        "outlet": "Japan Times",
        "title": "South Korea to double spending on AI and chips in 2027",
        "url": "https://urgent.news/2026/11/02/south-korea-to-double-spending-on-ai-and-chips-in-2027-17749962",
        "published": "2026-11-02T04:57:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}