Korea plans record W821tr budget on chip tax windfall

South Korea will raise government spending by 12.8 percent to a record 820.9 trillion won ($599.5 billion) in 2027, the fastest increase on record, as surging tax revenue gives Seoul room to expand investment in artificial intelligence, strategic industries and social programs. Under the government's medium-term fiscal plan, annual spending is projected to surpass 1,000 trillion won for the first time in 2030, reaching 1,005.2 trillion won, while national debt rises to 1,734.1 trillion won. The