Seoul proposes record 2027 budget with AI access and rental housing support
The 55.7 trillion won proposal would fund AI subscriptions and training for young residents, public rental homes and wider rent assistance. The AI subscription price remains unsettled.
Seoul unveiled a proposed record 55.7 trillion won ($41.8 billion) budget for 2027 on Thursday, 29 October, with funding for young residents’ AI access and housing support, The Korea Herald reported. The proposal is 8.3% larger than this year’s original budget and is due to go before the Seoul Metropolitan Council on Friday, 30 October.
AI subscriptions for young Seoul residents
The city set aside 26.6 billion won for generative AI subscriptions and tailored training aimed at 500,000 residents. The programme targets people aged 19 to 29, with disadvantaged applicants first in line and remaining subscriptions offered to other eligible residents, according to The Korea Herald.
Mayor Oh Se-hoon told reporters that rapid changes in jobs and workplaces made timing important. The proposal revives an AI programme whose 5.6 billion won allocation was cut from a supplementary budget in September. Democratic Party council members supported its aims but sought clearer eligibility and delivery plans, the Herald reported.
The subscription cost remains unsettled. Oh said the city had previously negotiated a price of $2.50 per user with AI providers, but had since been told they could no longer offer it. Local reports described that earlier figure as a monthly rate, according to the Herald. Oh said negotiations were continuing.
Rental homes and rent assistance in the proposal
The proposed budget includes 1.12 trillion won to supply 27,200 public rental homes through purchases, leases and construction. Seoul also plans to expand monthly rent assistance from 23,000 young people this year to 32,000, allocating 126.2 billion won, The Korea Herald reported.
The housing measures come as the national government pursues a separate supply plan around Seoul. Yonhap reported Thursday that the land ministry had named six candidate public-housing zones in Gyeonggi Province for more than 76,700 homes. The proposed sites are in Gimpo, Guri, Hanam, Uijeongbu and Goyang, within five kilometres of Seoul’s boundaries; they are separate from the municipal budget’s rental-home commitment.
Land Minister Hong Jee-sun said the government wanted more housing in areas favoured by young people and newlyweds, according to Yonhap. For Seoul’s municipal programmes, the next scheduled step is submission of the budget proposal to the city council on Friday.
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Sources and context
- Seoul's record 2027 budget bets big on AI and housingThe Korea Herald
- Gov't to designate new housing zones for over 76,000 homes near SeoulYonhap News Agency
AI-assisted article checked against the listed sources. NewsJaws did not conduct interviews or attend the reported events.