Lee Jae Myung proposes record 2027 budget with $15.97 billion for AI

What happened

The total comes to 820.9 trillion won ($615.62 billion), a record 12.8% jump from the previous year.

Where the money goes The headline item is 21.3 trillion won ($15.97 billion) for AI initiatives and three large-scale projects. That figure represents a 97.2% increase from the 10.8 trillion won set aside this year.

South Korea's AI-focused budget could boost economic growth, enhance global tech competitiveness, and potentially improve credit ratings. He wants lawmakers to approve a 2027 budget that puts artificial intelligence at the center of the country’s growth plan.

Those megaprojects cover semiconductors, physical AI, and AI data centers (a building full of computers that runs online services). Put simply, the AI line item nearly doubles in a single budget cycle.

It refers to artificial intelligence that operates in the real world, such as robots and machines, rather than software that lives only on a screen.

Add your holdings to find related stories in Pro. Create a free account Lee framed the spending as a bold bet on lifting South Korea’s long-term economic growth potential.