South Korea to nearly double AI spending to $16B in record budget

PolicyNew4 November 20261 min read

In brief

South Korea will spend 21.3 trillion won (about $16 billion) on AI, chips and AI data centres next year. President Lee Jae Myung set out the plan in his budget speech to the National Assembly on Monday. The budget is nearly twice this year's amount.

21.3 trillion won (about $16 billion) AI budget for next year
Spending covers AI, chips and AI data centres
Budget is nearly double this year's amount
Plan announced in President Lee Jae Myung's budget speech to the National Assembly

Announced in budget speech

South Korea will spend 21.3 trillion won (about $16 billion) on AI, semiconductors and AI data centres next year. President Lee Jae Myung announced the plan in his budget speech to the National Assembly on Monday.

Nearly double

The allocation is roughly twice this year's AI spending. The budget covers AI, chips and data centres as well as the country's "three megaprojects."

Why it matters

South Korea sits at critical points in the AI supply chain, from chip manufacturing to data centres. Doubling spending signals its aim to strengthen its global position in the field.

Why it matters

South Korea doubling its chip and data centre investment could shift the balance in the global AI supply chain and regional competition. It also offers a benchmark for technology and semiconductor policy debates elsewhere.

Sources

The Next WebFirst reported by
South Korea will nearly double AI spending to $16B in a record budget

#South Korea #AI investment #semiconductor #data centers #budget

South Korea to nearly double AI spending to $16B in record budget

In brief

Announced in budget speech

Nearly double

Why it matters

Why it matters

Sources

Related stories

Google trains on paid Gemini subscribers' chats too

AI data centers routed at US midterms: 33 of 45 local measures back restrictions

Google shares framework for safer, more helpful AI in health