Lee Vows Bold Investment in AI for Inclusive Growth

On November 2, 2026, President Lee Jae Myung delivered a speech at the National Assembly, outlining his commitment to bold investments in artificial intelligence (AI) and future growth engines. He emphasized the need for bipartisan support to pass the 2027 budget bill, which aims to transform South Korea into a leader in these sectors.

Lee stated, "The 2027 budget bill is one that will make South Korea a leader and secure its dominance in the future while turning national growth into growth for the people." The proposed budget of 820.9 trillion won (approximately $614.5 billion) represents a 12.8% increase from the previous year, reflecting the government's ambition to enhance economic potential through significant funding.

A key component of this budget is the establishment of a 160 trillion-won Future Fund, designed to support younger generations and stimulate regional development. Lee described this fund as a strategic investment platform that will help reduce social inequalities and promote economic growth.

In particular, the government plans to allocate 21.3 trillion won towards building a semiconductor manufacturing hub and data centers, which are crucial for advancing AI technologies. Additionally, 4.6 trillion won will be dedicated to acquiring a top-performing sovereign AI model, while 13.8 trillion won will focus on enhancing competitiveness in ten strategic technology sectors.

Despite the ambitious plans, Lee acknowledged the challenges posed by economic inequality and urged lawmakers to collaborate in building a better future for all South Koreans. He called for the passage of the budget bill by December 2, 2026, emphasizing the importance of unity in addressing the nation's economic challenges.