South Korea proposes record 2027 budget of approximately US$600 billion
South Korea's budget ministry proposed a record government expenditure of 821 trillion won (approximately US$597-600 billion) for 2027, representing a 12.8 percent increase from 2026 and the largest year-on-year spending increase in the country's history. The spending plan is backed by surging tax revenue from semiconductor companies Samsung Electronics and SK Hynix, driven by global demand for AI-related high-bandwidth memory. The proposal reflects President Lee Jae Myung's expansionary fiscal policy shift from his predecessor's austerity measures.
- Reutersfirst
- South China Morning Post+2.9 h
No left-right split here
Coverage clusters in the center and international press. Here is each take as it stands.
“South Korea sets record US$600 billion budget, backed by chip windfall”
“South Korea proposes record $597 billion 2027 budget to supercharge AI investment”