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South Korea’s Lee seeks 21.3 trillion won for AI and chips in 2027

South Korean President Lee Jae Myung urged parliament on 2 November 2026 to back the 2027 budget, including 21.3 trillion won for AI and three major projects involving semiconductors, physical AI and data centres.

The allocation would be nearly twice the 2026 level, according to his address as reported by Korean media. It would support industrial capacity and trials of systems that can act in the physical world.

The overall budget proposal totals 820.9 trillion won, up 12.8%. Lee seeks approval by 2 December. The figures remain proposals subject to lawmakers’ vote: the speech does not constitute final spending authorisation or the opening of infrastructure.

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