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South Korea plans extra budget to help AI developers, tariffs-hit industries

( April 8, 2025, 01:25 GMT | Official Statement) -- MLex Summary: South Korea’s government plans to draft a supplementary budget of about 10 trillion won ($6.80 billion) by next week, mainly to support national AI development programs and help industries affected by US reciprocal tariffs, the finance minister said. Choi Sang-mok, Minister of Economy and Finance, said during a meeting of key economic officials that 3 to 4 trillion won of the total will be allocated for these two purposes, including purchasing GPUs for use by artificial intelligence developers. The remainder will be earmarked to support recovery efforts in the southeastern mountainous regions, which were hit by the worst wildfire on record in recent weeks, as well as low-income earners and small businesses.The statement, in Korean, is attached....

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