BlackRock backs South Korea push to become Asia AI hub
President Lee Jae Myung secured BlackRock’s support to attract global investment in AI infrastructure, expanding South Korea’s capacity to serve domestic and regional demand.
South Korea has secured a significant partnership with BlackRock to accelerate its ambition of becoming Asia’s leading AI hub. The agreement will see the global asset manager join the Ministry of Science and ICT in developing hyperscale AI data centres.
A deal that followed a meeting between President Lee Jae Myung and BlackRock chair Larry Fink, who pledged to attract large-scale international investment into the country’s AI infrastructure.
Although no figures were disclosed, the partnership is expected to focus on meeting rising demand from domestic users and the wider Asia-Pacific region, with renewable energy powering the facilities.
The move comes as Seoul increases national funding for AI, semiconductors and other strategic technologies to KRW150 trillion ($107.7 billion). South Korean companies are also stepping up efforts, with SK Telecom announcing plans to raise AI investment to a third of its revenue over five years.
BlackRock’s involvement signals international confidence in South Korea’s long-term vision to position itself as a regional AI powerhouse and secure a leadership role in next-generation digital infrastructure.
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