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President Lee Jae Myung announced a defense budget increase of more than eight percent, aimed at securing military capabilities for the early transfer of wartime operational command (OPCON), KBS World reports. The announcement came as part of his address to the National Assembly on the record 2027 budget bill of about 821 trillion won, which also includes bold AI investment and a proposed 162 trillion won growth fund backed by semiconductor tax revenue, according to Korea Times and Yonhap. The main opposition People Power Party (PPP) criticized the speech for overlooking North Korea's threats and economic concerns, while accusing the administration of excessive spending, Yonhap reports.