South Korea is boosting its global technology profile as Amazon Web Services and six multinational firms pledged $9 billion in five-year investments. This initiative will strengthen Korea AI hub development and support advanced industries.
President Lee Jae Myung met AWS CEO Matt Garman and executives from Renault, Amkor Technology, Corning, Air Liquide, Siemens Healthineers, and Umicore in Gyeongju. Their talks coincided with the Asia-Pacific Economic Cooperation CEO Summit.
AWS will invest over $5 billion by 2031 to build AI data centers in Incheon and Gyeonggi Province. Earlier, it invested $4 billion to create a data center in Ulsan, marking Korea’s largest greenfield investment. Garman said the move demonstrates AWS’s confidence and will accelerate AI growth across industries.
Moreover, President Lee highlighted Korea AI hub initiatives such as the “AI expressway.” He explained these efforts will help industries and researchers harness AI capabilities. He added that advanced technology, especially AI, is central to economic recovery and future growth.
Renault Korea will convert Busan production lines to produce electric vehicles, naming Korea a key strategic hub. Siemens Healthineers will expand cardiac ultrasound device production in Pohang with a $50 million investment. Meanwhile, Umicore will raise battery production capacity from 35 to 40 gigawatts, enough for 500,000 EVs per year.
Additionally, Amkor Technology will grow semiconductor back-end facilities, Corning will invest in mobile device materials, and Air Liquide will enlarge its semiconductor specialty gas plant. These investments aim to strengthen Korea’s high-tech industrial base and global competitiveness.
Experts say the $9 billion investment shows global confidence in Korea’s technology sector. They also highlight its potential to make the country a leading Korea AI hub.
Overall, AWS and its partners are driving South Korea toward becoming a top global AI and advanced industry center. Their efforts are expected to foster innovation, create jobs, and attract more foreign investment.
