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South Korea Plans Record KRW800 Trillion Budget for Fiscal 2027

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South Korea is preparing a record 800 trillion won budget for fiscal 2027, owing to stronger tax revenue from the booming AI chip industry, according to the Ministry of Planning and Budget on Monday.

The budget will be funded via higher tax receipts and spending cuts, according to the release.

The budget is expected to be spent on the three major mega-projects of semiconductors, AI data centers, and physical AI.

The country also plans to establish a Future Response Fund to invest the surplus tax revenue in the younger generation, growth engines, local regions, and talent, it said.

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