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South Korea sets $8.43 billion bill to boost AI sector, mitigate tariff, fire damage

( April 15, 2025, 02:55 GMT | Official Statement) -- MLex Summary: South Korea’s government announced today the final details of its supplementary budget bill worth 12 trillion won ($8.43 billion) to support the artificial intelligence and high-end semiconductor industries, as well as to aid recovery efforts in wildfire-hit regions and businesses affected by the US tariff policy. The total, which was 20 percent more than the government’s earlier projection, breaks down into more than 4 trillion won to support the AI sector and cushion the impact of US tariff policy measures; more than 3 trillion won to assist recovery efforts in wildfire-hit regions and to enhance anti-disaster systems; and the remainder to support the livelihoods of people hit especially hard by the economic downturn. The details were included in two government statements released by the Ministry of Economy and Finance. The statements, in Korean, are attached....

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