Lee Jae Myung seeks record budget for AI megaprojects
In a speech seeking next year’s budget approval, President Lee Jae Myung said Seoul will fund AI alongside semiconductors, physical AI and data centres as chip-led exports near $1 trillion.
President Lee Jae Myung pledged 21.3 trillion won ($15.97bn)—nearly twice this year’s amount—for AI plus semiconductors, physical AI and AI data centres.
His government proposed a record 12.8% rise in next year’s spending to 820.9 trillion won ($615.62bn).
Chip demand has lifted exports and earnings at Samsung Electronics and SK Hynix; January–October exports reached $930bn.
The budget includes a 162.3 trillion won Future Response Fund, largely from semiconductor tax revenue.
An 800 trillion won private chip buildout led by Samsung and SK Hynix is planned in the southwest.