South Korea's Lee vows bold investment in AI, future growth engines for 'growth for all'

President Lee Jae Myung pledged “bold investment” in artificial intelligence and other future growth engines to boost South Korea’s economic potential and support what he called “growth for all,” Yonhap reported. Speaking at the National Assembly, Lee urged bipartisan approval of the 2027 budget bill. The government plans total spending of 820.9 trillion won (US$614.5 billion), more than 10% higher than this year, citing expectations of higher tax revenue linked to the semiconductor boom. Central to the plan is a 160 trillion-won Future Fund, including 45.4 trillion won allocated for the first time in 2027. Lee said 21.3 trillion won will go to a semiconductor manufacturing hub and data centers, while additional funding targets a sovereign AI model and competitiveness in 10 strategic technology sectors.