South Korea President Lee Announces Record AI Funding in 2027 Budget
President Lee Jae Myung pledges unprecedented AI investment as South Korea unveils a record 2027 budget, aiming to boost growth and narrow the wealth gap.
POLICY WIRE — Seoul, South Korea — President Lee Jae Myung told lawmakers on Monday that the nation will embark on bold artificial‑intelligence spending to sharpen its economic outlook.
The administration had earlier proposed a historic 12.8% increase in state outlays, lifting the 2027 budget to 820.9 trillion won (about $615.62 billion) to secure a competitive edge in the global AI race.
Two days later the government revealed the most aggressive fiscal plan ever, setting total expenditures for 2027 at roughly 821 trillion won (approximately $596.92 billion) to reinforce South Korea’s tech capabilities.
Lee framed the surge in spending as a cornerstone of his “growth for all” strategy, designed to stimulate economic expansion while narrowing the country’s wealth gap.
Reporting by Policy-Wire (PW)
