Lee: "Will Accelerate the Development of Korea's AI Ecosystem"
Seven Global Companies to Invest $9 Billion Over Five Years
On the morning of October 29, President Lee Jae-myung met with Matt Garman, CEO of Amazon Web Services (AWS), at the Gyeongju Arts Center, the venue for the 2025 Asia-Pacific Economic Cooperation (APEC) Summit. CEO Garman announced plans to invest more than 5 billion dollars (approximately 7.16 trillion won) by 2031, including the construction of new artificial intelligence (AI) data centers in the Incheon and Gyeonggi areas.
President Lee Jae-myung delivers a special keynote address at the opening ceremony of the Asia-Pacific Economic Cooperation (APEC) CEO Summit held at Gyeongju Arts Center, Gyeongbuk, on the 29th. 2025.10.29 Photo by Kang Jinhyung
During the meeting, President Lee stated, "The Korean government is actively pursuing the establishment of an 'AI Highway' to ensure that AI can be utilized at any time in both industry and research, with the goal of becoming one of the world's top three AI powerhouses. Amazon's decision to make additional large-scale investments in AI data centers will further accelerate the development of Korea's AI ecosystem."
He added, "I hope Amazon will strengthen its partnerships with domestic companies and create various models of cooperation as it moves forward with its business. The Korean government will also actively serve as a 'bridge for prosperity,' working together with global business leaders to move into the future."
Amazon, which announced a 4 billion dollar investment plan for an AI data center in Ulsan this past June, has now unveiled another large-scale investment, setting a new record for the largest greenfield (production facility) investment in Korea's history. The Presidential Office explained, "This is the result of the high growth potential of Korea's AI industry, its information technology (IT) competitiveness, and the government's strong commitment to fostering the AI sector."
After the meeting, President Lee attended the 'Global Company Investment Partnership' event with CEO Garman and representatives from six other global companies. At the event, plans were announced to invest a total of 9 billion dollars (approximately 13 trillion won) over the next five years in advanced and key industries such as AI data centers, semiconductor packaging, automobiles, displays, medical devices, and batteries.
Nicolas Paris, CEO of Renault Korea, stated, "Based on our strong confidence in the future mobility ecosystem in Korea, we plan to invest in converting the existing production lines at the Busan plant to electric vehicle lines." Vy Tran, Head of Siemens Healthineers Asia-Pacific, announced, "With the vision of making Korea a global hub for ultrasound medical devices, we plan to expand the production line for cardiac ultrasound device components in Pohang."
The Presidential Office commented, "This is also expected to greatly contribute to stabilizing supply chains in Korea's advanced sectors," and added, "President Lee expressed his gratitude to the CEOs of global companies who have chosen Korea as their optimal investment destination, reaffirming the Lee Jae-myung administration's active support for foreign investment."
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