( September 1, 2026, 03:08 GMT | Official Statement) -- MLex Summary: South Korea’s Ministry of Science and ICT, which oversees policies on artificial intelligence and other advanced technologies, said its plan to increase spending by 24.5 percent in 2027 was approved at a cabinet meeting on Tuesday. The plan calls for the ministry to increase spending to 29.6 trillion won ($21.6 billion) in 2027 from the 23.8 trillion won set for 2026, with funding for the AI sector set to rise by a faster 84.3 percent to 9.4 trillion won. The ministry will also increase funding to support the development of post-AI technologies by 16 percent, including the small modular reactor, biotechnology and quantum computing sectors. The plan, along with those for the other ministries, will now be sent to parliament for approval by early December.The statement is attached (in Korean)....
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