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South Korea will triple spending on artificial intelligence and make its biggest defence budget increase in six years, President Lee Jae Myung said Tuesday in his annual parliamentary budget speech.

Lee said 10.1 trillion won ($7 billion) would go towards “a major transformation aimed at propelling South Korea into the ranks of the world’s top three AI powers" alongside the United States and China.

“We will significantly expand investment to usher in the ‘AI era’," he said, noting the amount was more than three times the current year’s AI-related budget.

The proposal was made in a speech outlining his government’s spending plans for 2026.

Overall, the budget plan totals 728 trillion won, an 8.1 percent increase from this year.

Lee now needs parliament to pass

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