New york: President Lee Jae Myung met with BlackRock CEO Larry Fink in New York to discuss cooperation in artificial intelligence (AI) and renewable energy, with a vision of positioning South Korea as Asia's AI hub. During their meeting, both parties expressed commitment towards establishing the nation as a leader in AI technology and infrastructure in the region.
According to Yonhap News Agency, Fink pledged to collaborate with South Korea to make it the "AI capital in Asia" by attracting global investment. Ha Jung-woo, senior presidential secretary for AI policy and future planning, reported that Lee welcomed the potential partnership with BlackRock, the world's largest asset management firm, as it aligns with his government's initiatives in the AI sector. Lee expressed optimism for practical cooperation to advance these goals.
Following their discussions, a significant development occurred as the Ministry of Science and ICT signed a memorandum of understanding (MOU) with BlackRock. This MOU outlines a global partnership in the AI industry, focusing on several key areas including building infrastructure to meet rising AI demand and renewable energy initiatives. It also aims for a comprehensive approach to expanding AI capabilities.
The MOU further envisions constructing hyperscale AI data centers in South Korea to cater to domestic and regional demand. It also lays the groundwork for the country's participation in the Global AI Infrastructure Partnership (AIP) and includes plans for large-scale investments over the next five years. Ha noted that the collaboration seeks to integrate data centers with renewable energy generation and storage facilities, exploring possibilities for developing a global model based on this framework.
Adebayo Ogunlesi, chairman of Global Infrastructure Partners (GIP), a BlackRock subsidiary focused on infrastructure investment in data centers and energy transformation, was also present at the meeting, highlighting the strategic importance of this partnership for South Korea's AI and renewable energy ambitions.