South Korea will aim to invest nearly $16 billion artificial intelligence and semiconductors Lee Jae Myung said in his annual budget address to parliament. "We will invest 21.3 trillion won (€14.3 billion, $15.97 billion), nearly twice this year's amount, in AI and the three megaprojects of semiconductors, physical AI and AI data centres," Lee said on Monday. He added that 4.7 trillion won will be invested to bolster "frontier AI development projects, with the aim of achieving world-leading performance for our own AI model, a national strategic asset." The Lee administration has unveiled a record budget proposal for next year, featuring a 12.8% increase in government spending to 820.9 trillion won (€551.5 billion, $615.62 billion).
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