{"id":60894,"date":"2026-07-13T03:42:09","date_gmt":"2026-07-13T07:42:09","guid":{"rendered":"https:\/\/newssprinters.com\/index.php\/world\/s-korea-flags-record-2027-budget-of-over-530-billion-as-ai-chip-boom-lifts-revenues\/13\/07\/2026\/"},"modified":"2026-07-13T03:42:09","modified_gmt":"2026-07-13T07:42:09","slug":"s-korea-flags-record-2027-budget-of-over-530-billion-as-ai-chip-boom-lifts-revenues","status":"publish","type":"post","link":"https:\/\/newssprinters.com\/index.php\/world\/s-korea-flags-record-2027-budget-of-over-530-billion-as-ai-chip-boom-lifts-revenues\/13\/07\/2026\/","title":{"rendered":"S.Korea flags record 2027 budget of over $530 billion as AI chip boom lifts revenues"},"content":{"rendered":"

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SEOUL, July 13 (Reuters) – South Korea said on Monday it would draw up record budget spending of more \u200cthan 800 trillion won ($530.97 billion) for fiscal 2027, supported \u200cby stronger tax revenues from the booming AI chip industry. <\/p>\n

Budget Minister Park \u200bHong-keun, speaking at a national fiscal strategy meeting, said the spending plan would be financed through higher tax receipts and expenditure cuts. The proposed budget compares with this year’s 727.9 trillion won \u200cspending plan, excluding \u2060supplementary budgets. <\/p>\n

The government said three “mega-projects” \u2014 investments in chips, AI<\/a> data centres and physical AI \u2014 would receive \u2060top fiscal priority, adding that it would secure funding capacity through a major restructuring of existing spending programmes, rather than relying \u200bsolely on \u200bincreased tax revenue. <\/p>\n

President Lee Jae \u200bMyung said the government would \u200cuse all available means to ensure that corporate investments proceed on schedule. <\/p>\n

“Additional tax revenue coming at this time is a precious resource to be used at a golden time when global AI dominance will be determined,” Lee said. <\/p>\n

Budget Minister Park \u200csaid the government would seek to \u200brestructure about 50 trillion won in \u200bspending, twice the level \u200bof the previous year, through a review of \u200cdiscretionary and mandatory expenditures and cuts \u200bto underperforming \u200bprogrammes. <\/p>\n

South Korea plans to launch a Future Response Fund as a strategic investment platform, setting aside tax revenue that \u200bexceeds long-term trends \u200cand investing it in four areas: youth, growth engines, \u200bregions and talent, the government said. <\/p>\n

($1 = 1,506.6900 won) <\/p>\n

(Reporting by \u200bJoyce LeeEditing by Shri Navaratnam) <\/p>\n<\/p><\/div>\n

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SEOUL, July 13 (Reuters) – South Korea said on Monday it would draw up record budget spending of more ‌than 800 trillion