Seoul: The government announced plans to promote private-sector investment in emerging markets, specifically targeting the development of artificial intelligence (AI) data centers. This initiative aims to secure up to 100 trillion won (US$68.9 billion) from private firms and investors over the next five years.

According to Yonhap News Agency, the plan received approval during a committee meeting chaired by acting Budget Minister Lim Ki-geun, focusing on measures to boost private investment. Lim emphasized the importance of combining public and private investment to expand future-oriented infrastructure, not only in traditional areas like roads and railways but also in AI and community-focused projects.

The government also intends to establish public infrastructure funds to encourage citizen participation and provide incentives for projects in regions experiencing population decline. The ministry plans to finalize the business model in the first quarter, conduct feasibility studies throughout the year, and launch the first private investment project next year.