South Korea to double spending on AI and chips in 2027

Seoul – South Korea will double spending on artificial intelligence and semiconductors in 2027 to a record high, the president said Monday, pledging to use the technology to turn the military into a “smart, elite force.” President Lee Jae Myung in his annual budget speech to parliament said 21.3 trillion won ($16 billion) would be allocated to chipmaking and artificial intelligence, spanning data centers to robotics.