South Korea's 2027 budget reaches 821 trillion KRW, with special allocations for semiconductors and strategic weapons

(1) The South Korean government proposed the 2027 national budget at a cabinet meeting on Tuesday, with a total amount of 821 trillion Korean won (approximately $598.79 billion). The meeting will review and approve this budget proposal. (2) The budget includes a special allocation of 2.6 trillion Korean won for the semiconductor industry to support the development of this key sector. (3) At the same time, the government proposed allocating 3.4 trillion Korean won for the nuclear-powered submarine project and other strategic weapons to strengthen defense capabilities.