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South Korea plans record 820.9 trillion won ($599.5 billion) budget for 2027, up 12.8%, driven by chip tax windfall for AI, strategic industries and social programs
South Korea's government spending for 2027 is set to be the fastest increase on record. Under its 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.
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