South Korea plans to record-breaking expansion of fiscal budget, with artificial intelligence investments receiving financial support
2026-09-01 11:22:05
According to CoinMeta, South Korea plans to record an increase in government spending next year to fund its artificial intelligence investment initiatives. At the same time, more than 160 trillion won (about $117 billion) in unexpected revenue from the semiconductor industry will be allocated to a new fund. The South Korean Ministry of Finance stated on Tuesday that the government proposes to raise fiscal spending to 820.9 trillion won in 2027, a 12.8% increase from this year's budget, setting a new historical high and surpassing the 10.6% growth in 2009 and the 9.1% increase during the pandemic in 2020. At the core of this plan is a new “Future Response Fund,” into which the government will channel tax revenues that exceed the long-term fiscal revenue trend, rather than allowing all of the unexpectedly increased tax revenue to flow into annual expenditures. It is expected that 162.3 trillion won will be allocated to this fund, mainly reflecting the anticipated domestic tax revenues that will exceed the trend levels of the past decade.
Source:Internet
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