South Korea to double spending on AI and chips in 2027

Seoul - South Korea will double spending on artificial intelligence and semiconductors in 2027 to a record high, the president said Monday, pledging to use the technology to turn the military into a "smart, elite force." President Lee Jae Myung in his annual budget speech to parliament said 21.3 trillion won ($16 billion) would be allocated to chipmaking and artificial intelligence, spanning data centers to robotics. "We will make bold investments in AI and future growth engines to boost our economy's growth potential," he said, adding that the figure was "nearly double this year's amount." In a time of both misinformation and too much information, quality journalism is more crucial than ever. By subscribing, you can help us get the story right.