Korea’s 2027 Budget: saving the AI windfall, for now
Korea’s 2027 budget proposal released today suggests that the government will save more than two-thirds of a tax windfall from the boom in the country’s AI-related exports. That will provide some comfort for officials at the Bank of Korea and so we are sticking to our view that monetary policy won’t be tightened further beyond the additional 25bp hike that we already expect in this cycle.
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