Next Year's 'Super Budget' Exceeds 800 Trillion Won... Heavy Investment in AI, Youth, and Regions

[Anchor]

The government and the ruling party have decided to compile next year's budget on a scale of over 800 trillion won. Backed by increased tax revenues from the semiconductor boom, the plan is to actively inject fiscal funds into AI, future industries, youth, and regional areas.

Reporter Lee Seong-hoon has the details.

[Reporter]

Next year's budget is projected to surpass 800 trillion won for the first time in history.

This is an increase of more than 10% compared to this year's initial budget of 729.9 trillion won, marking the first time the total expenditure growth rate has reached double digits since the 2009 global financial crisis.

The ruling party and the government's policy is to reinvest the increased tax revenues into future growth rather than exhausting them on temporary expenditures.

[Park Hong-keun / Minister of Planning and Budget: To avoid exhausting tax revenues increased by the semiconductor boom on temporary spending, we will establish a new Future Response Fund. We will utilize it as a strategic investment platform to support the rebound of potential growth rate and as a fiscal stabilization device to mitigate tax revenue volatility.]

First, investments will be concentrated on three mega-projects, including AI and semiconductors.

A special semiconductor account will be created, and the development of AI solutions utilizing know-how from manufacturing sites will be supported.

Plans are also being pursued to supply 10,000 CPUs for the development of cutting-edge AI models.

Investments will also be increased in future industries such as space and biotechnology.

Support will be provided for research and development on the 2030 lunar landing, autonomous vehicle pilot zones will be expanded, and electric vehicle subsidies will be increased to a record scale.

Support for youth will also be strengthened.

A university student internship semester system will be introduced, and a new 'Our Child Independence Fund' will be established to provide up to 1.2 million won annually until the age of 18.

For regional areas, special subsidies will be created to support corporate relocation, and the full subsidization of tuition fees for regional national universities, along with the establishment of a special account for regional essential medical services, will be pursued.

Budgets will also be injected into public safety areas, including support for the development of nuclear-powered submarines and increases in compensation for junior military officers.

Next year's budget proposal is scheduled to be unveiled following deliberation and resolution at a Cabinet meeting early next month.

[Video Editing: Lee Seung-jin]
※ Please note: This article was translated by AI and may contain errors.