Gunsan: Hyundai Motor Group announced plans to invest 9 trillion won (US$6.26 billion) in establishing an innovation hub focused on artificial intelligence (AI), robotics, and hydrogen mobility on reclaimed land in North Jeolla Province. The project is part of a broader initiative to enhance the advanced robot and hydrogen industries in the region.

According to Yonhap News Agency, the group has signed a memorandum of understanding (MOU) with the central and provincial governments of North Jeolla Province. The collaboration aims to utilize the Saemangeum reclaimed land to develop and promote these cutting-edge industries. A signing ceremony, attended by President Lee Jae Myung, took place in Gunsan, approximately 180 kilometers southwest of Seoul.

The investment project will be implemented in phases and will cover an area of 1.12 million square meters in the Saemangeum region. Hyundai aims to establish a leadership position in the fields of physical AI and carbon-neutral energy through this initiative.

The comprehensive investment plan includes 5.8 trillion won allocated for an AI data center, 400 billion won towards a robotics manufacturing and components cluster, 1 trillion won for a water electrolysis plant, and 1.3 trillion won for solar power facilities, among other investments. Hyundai expects this project to create around 70,000 jobs and generate an estimated economic impact of 16 trillion won.