South Korea Approves Record 820.9 Trillion Won 2027 Budget

South Korea's government has approved a record budget of 820.9 trillion won for 2027, marking the largest year-on-year spending increase in the nation's history. The expansionary fiscal plan, which raises expenditure by 12.8 percent from the 2026 original budget, is fueled by a massive tax windfall from the country's booming semiconductor industry. The Cabinet adopted the proposal on Tuesday, September 1, 2026, and it will now be submitted to the National Assembly for approval. The surge in revenue is driven by exceptional corporate profits from chipmakers like Samsung Electronics and SK Hynix, which are benefiting from global demand for high-bandwidth memory used in artificial intelligence.