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AI News from ET - South Korea flags record 2027 budget of over $530 billion as AI chip boom lifts revenues

Vishwadeep Khatri
in AI News & Two Lenses

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South Korea plans record budget spending exceeding 800 trillion won for fiscal 2027. This significant spending will be supported by stronger tax revenues from the AI chip industry. The government will prioritize investments in chips, AI data centers, and physical AI technologies. Existing spending programs will undergo major restructuring to secure necessary funding capacity. A new Future Response Fund will strategically invest excess tax revenue in key areas.

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