Gyeongju: President Lee Jae Myung reaffirmed his commitment to supporting business activities as global companies unveiled plans to invest a combined $9 billion in South Korea over the next five years, the presidential office said. The announcement was made during the Global Investment Partnership forum held in Gyeongju, coinciding with the Asia-Pacific Economic Cooperation gathering.
According to Yonhap News Agency, seven companies, including Amazon Web Services (AWS), Renault, Amkor Technology, Corning, Air Liquide, Siemens Healthineers, and Umicore, declared their investment plans at the forum. AWS CEO Matt Garman held a separate meeting with President Lee to discuss the company's strategy to invest approximately $5 billion by 2031. This investment aims to establish new artificial intelligence data centers in Incheon and Gyeonggi Province.
President Lee expressed his approval of the investment, highlighting South Korea's efforts to build a comprehensive AI infrastructure with the objective of becoming one of the world's top three AI powerhouses. He stated that Amazon's investment in large-scale AI data centers would significantly accelerate the development of Korea's AI ecosystem.
Garman noted that the additional $5 billion commitment, which adds to a $4 billion investment plan announced in June, underscores the promising growth potential of the AI sector in South Korea. He emphasized that the investment aims to enhance AI infrastructure in the country to foster the technology's growth.
The presidential office highlighted that Amazon's investment represents one of the largest foreign direct investments in South Korea.