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Industry

Semiconductor export boom swells Korea budget, setting up September parliamentary clash

South Korea’s government budget for 2027 is set to rise sharply as a semiconductor export boom lifts tax revenue, raising the stakes for a September parliamentary session over how to allocate funds. The plan boosts spending to 820.9 trillion won and lifts revenue to 880.8 trillion won, led by a jump in national tax receipts. Funding for semiconductor and AI initiatives rises, including a new semiconductor special account, while debates centre on tax credits, infrastructure support and an exception to the 52-hour workweek cap.

Industry

Government to set up future response fund based on 162.3 trillion won in extra tax revenue, double megaproject budget

South Korea’s government plans to create and set aside a 162.3 trillion won future response fund in its 2027 budget, allocating 45.4 trillion won to four areas: youth, growth engines, regions and education and talent. Spending for “three megaprojects plus AI” covering semiconductors, physical AI and AI data centres rises 97.2 percent to 21.3 trillion won. Total 2027 spending is set at 820.9 trillion won, up 12.8 percent.

Telecommunications & Media

91 percent of areas with poor telecom quality improved; 8 subway sections still fall short

South Korea\'s Ministry of Science and ICT and the National Information Society Agency said 79 of 87 areas and facilities found to have poor telecom service in a 2025 quality assessment have improved after a recheck. The improvement rate was 91 percent. All 30 indoor sites improved. In subways, 5G improved in 12 of 13 sections, while LTE improved in 37 of 44 sections, leaving 8 subway sections still below standards.