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South Korea Unveils 728 Trillion Won 2026 Budget to Drive AI and Strengthen Defense

The plan forecasts a wider deficit with higher debt as the proposal moves to the National Assembly.

Overview

  • AI spending rises to 10.1 trillion won and overall R&D climbs 19.3% to 35.3 trillion won to accelerate a state-led ‘super-innovation’ strategy.
  • Defense outlays increase 8.2% to 66.3 trillion won to fund high‑tech weapons such as the KF‑21 fighter and to raise entry‑level military pay.
  • Foreign aid faces a sharp reset with a roughly 22% ODA cut that lowers the ministry’s total to 3.6 trillion won, while the inter‑Korean cooperation fund is restored above 1 trillion won.
  • A 70‑fold jump in the trade‑response budget to 2.1 trillion won includes 1.9 trillion won for financing cooperation projects tied to the Korea–U.S. tariff deal.
  • Financing leans on a record 27 trillion won in program cuts and expanded bond issuance, with the fiscal deficit projected at 4.0% of GDP and debt at 51.6%.