THE BRIEFING
SOUTH KOREA’ S AI CHIP BOOM POWERS A RECORD 2027 BUDGET
South Korea has announced a record fiscal 2027 budget exceeding ₩ 821tn( US $ 598bn), driven by an increase in corporate tax revenue from the boom in the AI memory chip sector. The surge – which saw semiconductor shipments surge by 209 % to US $ 46.7tn – has been driven by global demand from data centre operators and tech leaders like NVIDIA. Capitalising on the growth in tax revenues, South Korea President Lee Jae Myung plans for the budget to allocate ₩ 21.3tn( US $ 15.5bn) to go towards semiconductors, AI data centres and physical AI. However, central bankers and economists are expressing concerns over potential economic problems, such as an increase of property prices and a rise in household debt.
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