Seoul, Nov 2, 2026 (AFP) - South Korea to double spending on AI and chips in 2027

NAMPA / AFP

2026-11-02

South Korea will double spending on artificial intelligence and semiconductors in 2027 to a record high of $16 billion, President Lee Jae Myung said Monday in his annual budget speech to parliament. The country is a tech powerhouse home to Samsung Electronics and SK hynix, two of the world's three biggest makers of memory chips -- computer components in huge demand thanks to the AI boom. "We will allocate 21.3 trillion won ($16 billion) to semico......

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