Korea sets $15.6 billion budget for chips and AI initiatives in 2027

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Sept. 02, 2026 –

The total 2027 budget stands at 820.9 trillion won ($60.5 billion), a 12.8 percent on-year increase, with the Ministry of Climate, Energy and Environment's budget set to an all-time high of 25.73 trillion won.

By SARAH CHEA, koreajoongangdaily.com

The Korean government earmarked 21.3 trillion won ($15.6 billion) in its 2027 budget for major semiconductor and AI-powered data center initiatives, of which 1.9 trillion won will be funneled from the Environment Ministry to develop water and power infrastructure for four yet-to-be-built chip factories.

The government unveiled the budget’s details on Tuesday.

The country's total 2027 budget stands at 820.9 trillion won, up 93 trillion won, or a 12.8 percent on-year increase, with the Environment Ministry’s budget set to an all-time high of 25.73 trillion won. 

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