South Korea plans a record $530 billion budget for 2027, driven by surging tax revenues from its booming AI chip industry and strategic expenditure adjustments.

Seoul will draw up a record 2027 budget of more than 800 trillion won, funded by chip tax receipts and a 50 trillion won spending restructuring.

South Korea plans record budget spending exceeding 800 trillion won for fiscal 2027. This significant spending will be supported by stronger tax revenues from the AI chip…