South Korea significantly increases AI and military budgets

On November 4th during his annual parliamentary speech, President Lee Jae Myung said that it will triple South Korea’s spending on AI technology and also revealed the country’s largest rise in six years for their defence budget, according to France 24 via AFP.

The president announced that approximately $7billion will be spent to hopefully propel South Korea in the top three of AI powers, promising a major transformation to match the US and China.

The budget proposal will likely pass the parliament considering his party’s majority, and it also includes 8.2 percent increase for the defence budget compared to 2025 that will apparently help the country modernise its weapons systems and military.

France 24 via AFP