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South Korea unveils 2027 spending plan backed by chip windfall
The budget would lift 2027 government expenditure to 821 trillion won, up 12.8% from 2026, according to the plan.
South Korea unveiled what it described as its most aggressive financial spending plan on record, setting total government expenditure for 2027 at 821 trillion won, or about US$600 billion.
According to SCMP Economy, the budget proposal is backed by a chip windfall and is intended to strengthen South Korea’s technological edge amid the global AI race.
The budget ministry said the 2027 spending plan represents a 12.8% increase from 2026, the largest year-on-year rise in the proposal, SCMP Economy reported.
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