Busan City Attracts 1.8 Trillion Won Investment as IGIS Asset Management Succeeds in AI Data Center誘

Construction and Operation of Two Large-Scale AI Data Centers in Myeongji-Noksan National Industrial Complex
Production Inducement Effect of 3.492 Trillion Won, Employment Creation of Around 7,570 Jobs

Busan City has succeeded in attracting a large-scale artificial intelligence (AI) data center industry.

On the morning of June 17, Busan City announced that it would sign a memorandum of understanding (MOU) for the 'AI Data Center Industry Vitalization Investment' worth 1.8 trillion won with IGIS Asset Management Co., Ltd. (Real Asset Division CEO Lee Cheolseung) at the International Protocol Room of Busan City Hall.

The signing ceremony will be attended by Busan Mayor Park Hyungjun, IGIS Asset Management Real Asset Division CEO Lee Cheolseung, and Busan IT Industry Promotion Agency President Kim Taeyeol.

Under the MOU, IGIS Asset Management plans to build and operate two large-scale AI data centers in the Myeongji-Noksan National Industrial Complex area, investing a total of 1.8 trillion won and creating approximately 300 direct jobs. The production inducement effect is estimated at 3.492 trillion won, the value-added inducement effect at 1.332 trillion won, and the employment inducement effect at around 7,570 jobs. Local tax revenues, including acquisition tax and local income tax, are also expected to increase.

The city plans to promote cooperative projects for fostering the digital industry, such as prioritizing the employment of local talent, expanding the participation of local construction companies, and supporting cloud transition consulting, through this project.

After completing procedures such as design and permits for the construction of the data centers, groundbreaking is scheduled for the second half of next year, with full-scale operations expected to begin in the second half of 2029.

Mayor Park Hyungjun emphasized, "This investment attraction will serve as a major turning point for Busan to become a national AI infrastructure hub city," and added, "We will create the optimal urban environment to lead future industries together with businesses."

Busan City Hall.