South Korea to invest billions in AI
The gist
South Korean President Lee Jae Myung proposed investing 21.3 trillion won in AI and chip megaprojects next year.
The record budget needs parliament's approval and rests on a chip-export boom.
How it unfolded
- Jun 29, 2026Lee announced chip and AI mega-projects worth more than $576 billion over several years, with Samsung and SK Hynix to invest 800 trillion won ($517.87 billion) with suppliers.
- Aug 21, 2026The budget ministry said it planned a fund to channel semiconductor tax windfalls into youth programmes and AI and future growth industries; no official size was given.
- Sep 2026The Lee administration proposed raising government spending by a record 12.8% next year to 820.9 trillion won ($615.62 billion).