Seongnam: Lee Hae-jin, the founder and chairman of Naver Corp., has engaged in discussions with Bruce Flatt, the CEO of Brookfield Corp., to explore advancements in a project focused on constructing a 1 gigawatt capacity artificial intelligence (AI) factory. The South Korean IT company announced this development on Friday.

According to Yonhap News Agency, the meeting took place at Naver's headquarters in Seongnam, south of Seoul, where the two executives engaged in follow-up talks regarding the AI factory project that was initially unveiled last month. The discussions emphasized enhancing the collaborative efforts between Naver and Brookfield.

During the meeting, Lee and Flatt expressed mutual appreciation and committed to strengthening their collaboration on expanding AI-related infrastructure. The project, under Naver's 1 GW AI factory initiative, involves Brookfield's agreement to invest up to US$9 billion in its first phase, which will feature a capacity of 200 megawatts, through a special purpose entity.

Additionally, U.S. chip giant Nvidia Corp. is a participant in the project, having entered into an agreement to acquire common shares in Naver.