In brief
The Republic of Korea plans to double its spending on artificial intelligence and semiconductors to a record $16 billion by 2027, according to President Lee Jae‑Myung. The program includes a 4.7 trillion won investment in a flagship AI model aimed at world‑leading performance. The move is part of a broader strategy to boost the country’s economic growth potential.
South Korea announced today that it will double its spending on artificial intelligence and semiconductors to a record $16 billion by 2027, President Lee Jae‑Myung said in Seoul. The money will be used to build a flagship AI model, with a 4.7 trillion won investment that the government hopes will put Korean technology ahead of the rest of the world, WAM reported.
The new scheme is part of a larger effort to strengthen the nation’s economy. By investing more in AI and the chip industry, the government aims to create new jobs and keep Korean companies competitive, the president said.
AI was highlighted as a national strategic asset, and the extra funding will support researchers and start‑ups to push the limits of machine learning. The plan is set to finish its first phase by the end of 2027, bringing the total national AI budget to $16 billion, a level unprecedented in Korean history, according to WAM.
