South Korea doubles AI and chip investment to 16 billion dollars
By the AFREEQUE newsroom, based on Citizen Digital
South Korean President Lee Jae-myung announced a 21.3 trillion won allocation, or 16 billion dollars, for artificial intelligence and semiconductors in 2027. The budget, nearly twice last year’s, will cover data centres and robotics, among other areas, according to the budget speech delivered before the National Assembly on 2 November 2026.
South Korean President Lee Jae-myung announced on Monday 2 November that his government would allocate 21.3 trillion won, or about 16 billion dollars, to artificial intelligence and semiconductors in 2027. The allocation, nearly twice this year’s amount, was presented in his budget speech before the National Assembly, reports Citizen Digital.
The 2027 budget proposal totals 821 trillion won, up 12.8% year on year, which would make it the largest ever proposed in the country. Lee also announced 4.7 trillion won for advanced artificial intelligence projects, with the aim of developing a world-class national model.
The government also plans to increase the defence budget to 73.3 trillion won, an increase of about 8%. Lee referred to transforming the military into a force using systems integrating soldiers and autonomous equipment, including robots and drones. Parliament must still examine the budget proposal.
In June, the president presented a public-private partnership aimed at developing chip production hubs, robotics research centres and large-scale artificial intelligence data centres, according to Citizen Digital.
