South Korean President vows to make bold AI investments to boost growth

South ​Korean President ​Lee Jae Myung ‌vowed on ​Monday to make bold investments in ‌artificial intelligence to boost the country's economic growth potential, in an address to ‌parliament seeking approval of next ‌year's budget spending plans. The administration of President Lee proposed in September a record jump in ⁠government ​spending ⁠next year to 820.9 trillion won ($615.62 billion) in ⁠a bid to strengthen the ​country's technological edge amid the global AI ⁠race.

Buoyed by the AI investment boom, ⁠South ​Korean exports are expected to reach $1 trillion this year, but ⁠inequality is also widening, Lee said, as he ⁠pledged ⁠active government spending for "growth for all". ($1 = 1,333.4600 won)