South Korea doubles artificial intelligence and semiconductor spending

South Korea plans a record $16 billion investment to boost artificial intelligence and chip production.

South Korean President Lee Jae Myung announced a record investment of $16 billion toward artificial intelligence and semiconductor development in his annual budget address. The funding push follows strong global demand for advanced memory chips, which has significantly boosted national exports and corporate earnings.

• The companiesSamsung Electronics and SK Hynix have benefited from the high demand for memory chips.
• The budgetThe record allocation was unveiled during the annual presidential budget address.

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