South Korea and BlackRock announced plans to develop a Korean AI hub. The project aims to meet domestic and Asia-Pacific demand while positioning the country as a regional technology leader.
During a meeting in New York, President Lee Jae Myung met with Larry Fink, chairman of BlackRock. Also attending were Adebayo Ogunlesi, chair of BlackRock-owned Global Investment Partners, and Jim Yong Kim, former World Bank president. The discussion focused on AI infrastructure and renewable energy integration.
South Korea and BlackRock signed a memorandum of understanding to cooperate on establishing hyperscale AI applications powered by renewable energy. The initiative will allow the Korean AI hub to attract global capital and cutting-edge technology projects requiring advanced infrastructure.
President Lee emphasized South Korea’s readiness for AI and energy transition. “South Korea is science-savvy and adapts quickly to new technologies,” Lee said. The project intends to showcase the country as an exemplary model of AI adoption and renewable energy integration.
Science Minister Bae Kyung-hoon and AI Senior Secretary Ha Jung-woo explained that the Korean AI hub could accommodate massive computing tasks for AI applications. While the location and exact capacity remain undecided, the hub could transform South Korea into a central AI capital in Asia.
Fink noted the initiative would open investment opportunities for global firms. Cha Ji-ho, a South Korean lawmaker, said a task force between the government and BlackRock would ensure smooth follow-up implementation. Furthermore, BlackRock, managing $12.5 trillion in assets, could provide major capital and technical expertise for the initiative.
The announcement coincides with South Korea’s upcoming role as the rotating president of the UN Security Council. President Lee is set to chair a debate on AI use, reinforcing the country’s leadership in global technology policy.
Additionally, Science Minister Bae and Senior Secretary Ha plan to visit IBM’s research facility in New York. The visit aims to explore how quantum technology could enhance South Korea’s AI research capabilities. Officials noted that breakthroughs in quantum computing could accelerate AI development and strengthen the nation’s technological competitiveness.
Overall, South Korea and BlackRock emphasized that the collaboration will take approximately ten years to complete, reflecting the scale and ambition of the project. The initiative demonstrates how government and global investors can work together to advance the Korean AI hub and innovation leadership.
