{"id":13021,"date":"2026-11-02T02:26:28","date_gmt":"2026-11-02T02:26:28","guid":{"rendered":"https:\/\/sotnews.agency\/?p=13021"},"modified":"2026-11-02T02:26:28","modified_gmt":"2026-11-02T02:26:28","slug":"breaking-president-highlights-growth-fund-as-he-seeks-parliamentary-backing-for-record-budget","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=13021","title":{"rendered":"[BREAKING] President highlights growth fund as he seeks parliamentary backing for record budget"},"content":{"rendered":"
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President Lee Jae Myung delivers an address on the 2027 budget at the National Assembly in Yeouido, Seoul, Monday. Yonhap<\/p>\n<\/figcaption><\/figure>\n

President Lee Jae Myung on Monday highlighted a proposed 162 trillion won ($120.83 billion) growth fund backed by additional tax revenue from the semiconductor boom, as he sought parliamentary approval for next year\u2019s record 820.9 trillion won budget.<\/p>\n

Speaking at the National Assembly, Lee also outlined 21.3 trillion won for artificial intelligence (AI) and three megaprojects, along with 13.8 trillion won for 10 next-generation strategic technology fields.<\/p>\n

He pledged expanded welfare support, including automatic access to major benefits for eligible recipients and higher livelihood payments.<\/p>\n

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Lawmakers listen to President Lee Jae Myung\u2019s speech on the 2027 budget at the National Assembly in Yeouido, Seoul, Monday. Yonhap<\/p>\n<\/figcaption><\/figure>\n

\u201cThe new fund will serve as a strategic investment platform supporting a recovery in potential growth, as well as an innovative fiscal stabilization mechanism to manage increasingly volatile tax revenues,\u201d he said in his speech before the lawmakers. <\/p>\n

On technology investment, he said, \u201cWe will invest 21.3 trillion won, nearly twice this year\u2019s amount, in AI and the three megaprojects \u2014 semiconductors, physical AI and AI data centers.\u201d<\/p>\n

\u201cWe will invest 13.8 trillion won in the next 10 strategic technology fields that will drive future growth, securing an overwhelming competitive lead,\u201d he added.<\/p>\n

The president asked lawmakers to approve next year\u2019s budget proposal and accompanying legislation by Dec. 2, the deadline set by law.<\/p>\n

It was Lee\u2019s fourth budget address since taking office, following speeches on supplementary budgets in June 2025 and April this year, and the 2026 budget in November last year.<\/p>\n

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President Lee Jae Myung delivers an address on the 2027 budget at the National Assembly in Yeouido, Seoul, Monday. Yonhap President Lee Jae Myung on Monday highlighted a proposed 162 trillion won ($120.83 billion) growth fund backed by additional tax revenue from the semiconductor boom, as he sought parliamentary approval for next year\u2019s record 820.9…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_templately_pack_id":"","_templately_imported_at":"","_templately_source":"","_templately_import_session_id":"","footnotes":""},"categories":[16],"tags":[],"class_list":["post-13021","post","type-post","status-publish","format-standard","category-korea"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t