DOE eyes P5.6-B 2027 budget as conventional energy, EV programs get big boost

The largest percentage increase is for the Electric Vehicle Industry Development Program, whose funding rises more than sevenfold to P228.92 million from P32.46 million in 2026

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

SEOUL, Sept 1 : South Korea on Tuesday proposed an 821 trillion won ($598.79 billion) government budget for 2027, including special funding for its semiconductor industry and strategic weapons, the budget minister said in a cabinet meeting. The government earmarked 2.6 trillion won for a special semiconductor budget, t