In brief
President Lee Jae‑Myung’s speech at the National Assembly on Nov. 2 2026 announced a record 2027 budget of 820.9 trillion won, the largest in history, to fuel AI and high‑growth sectors. The plan includes a 160 trillion‑won Future Fund aimed at youth and regional development. Lee called for bipartisan support to make growth accessible to everyone.
On Monday, November 2, 2026, President Lee Jae‑Myung gave a speech at the National Assembly in Seoul where he unveiled South Korea’s largest ever budget and a bold plan to invest heavily in artificial intelligence and future growth engines.
The 2027 budget, set at 820.9 trillion won, represents a 12.8 percent increase from this year and is the biggest fiscal investment in Korean history. The budget also anticipates increased tax revenue from the semiconductor boom and contains a 10 percent rise in spending.
A centerpiece of the proposal is a 160 trillion‑won Future Fund aimed at supporting younger generations, spurring economic growth, and reducing deep social gaps. A total of 45.4 trillion won of this fund will be allocated for the first time in 2027.
President Lee described the package as a “great leap forward” that will turn national growth into “growth for all.” He urged bipartisan support for the budget bill in order to position Korea as a leader and secure its dominance in the future.
In addition to AI, the budget emphasizes investment in semiconductor manufacturing hubs, data‑center development, and other high‑growth sectors deemed essential for sustaining Korea’s economic potential.
