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South Korea's AI, tariff-hit industries need quick extra budget, leader says

By Choonsik Yoo ( April 24, 2025, 07:01 GMT | Insight) -- South Korea urgently needs additional fiscal spending to address a mix of challenges, such as US tariff policies, intense global competition in artificial intelligence and a sustained economic slump, the country’s acting president told parliament today. Prime Minister Han Duck-soo asked the opposition-controlled parliament to promptly approve the government's 12.2 trillion won ($8.53 billion) extra budget bill. However, the main opposition party is calling for a much larger bill, indicating that another spending bill may be filed soon after the June 3 snap presidential election. South Korea's leader urged parliament today to approve additional fiscal spending to address a mix of grave challenges, including US tariff policies, intense global competition in artificial intelligence and a sustained economic slump....

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