Wire reporting: (Reuters, via CNA)

South Korean President Lee Jae Myung told the National Assembly on Monday that the government's 2027 budget would put 21.3 trillion won, about $15.97 billion, into artificial intelligence, semiconductors, physical AI and AI data centers, nearly twice this year's amount, Channel News Asia reported, carrying Reuters^4,2,1. Yonhap News Agency independently reported the same 21.3 trillion won figure for those three megaprojects³.

Lee asked lawmakers for bipartisan support to pass the spending plan by Dec. 2, Yonhap reported³. The administration sent the bill to the assembly in September, proposing 820.9 trillion won in total outlays. CNA, citing the government, said that would be a record 12.8 percent increase; Yonhap's own recap described the rise as more than 10 percent, while also quoting Lee calling it a 12.8 percent increase^3,4.

Yonhap quoted Lee as saying the government "will boldly invest in AI and future growth engines" to lift what he called the economy's growth potential³. He framed the bill as converting national growth into "growth for all" by concentrating money on future industries and narrowing gaps³.

CNA, carrying Reuters, said Asia's fourth-largest economy grew faster than expected in the third quarter on chip exports and investment, and that exports from January to October totaled $930 billion, putting South Korea on track to exceed $1 trillion this year⁴. Yonhap attributed higher expected tax revenue to the semiconductor boom³.

Yonhap said Lee also described a separate 4.6 trillion won allocation toward a sovereign AI model and 13.8 trillion won for 10 strategic technology sectors³. CNA reported a 162.3 trillion won Future Response Fund financed largely by extra semiconductor tax revenue, and an 800 trillion won private chip buildout led by Samsung Electronics and SK Hynix⁴.

Lee also highlighted an 8.2 percent increase in next year's defense budget to 73.3 trillion won, Yonhap reported, saying Seoul planned to acquire assets such as nuclear submarines and KF-21 fighter jets as it seeks to retake wartime operational control from the United States³. People Power Party lawmakers protested during the speech, accusing the government of increasing national debt, Yonhap said³.

The assembly has not yet voted. Whether the AI package survives intact remains unknown^3,4.