South Korea will nearly double AI spending to $16B in a record budget
South Korean President Lee Jae Myung announced a record budget allocating 21.3 trillion won (approximately $16 billion) toward AI, semiconductors and AI data centers for the coming year. The amount represents nearly double the current year's spending, reflecting the country's commitment to advancing AI and chip technology. The announcement was made during the president's budget speech to the National Assembly.
Key points
- 21.3 trillion won ($16B) allocated for next year—nearly double current AI spending
- Investment targets AI, chips and AI data center infrastructure
- Part of South Korea's strategic push on semiconductors and AI capability
- Announced by President Lee Jae Myung in National Assembly budget speech
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