Korea and BlackRock have signed a memorandum of understanding to form a strategic partnership aiming to position Korea as the AI capital of Asia through investments in AI infrastructure and renewable energy.

The agreement was reached on September 22 in New York City during a meeting between President Lee Jae Myung and Larry Fink, CEO of BlackRock and interim co-chair of the World Economic Forum.

The partnership will focus on joint development of data centers, establishing Korea as an Asia-Pacific base for AI infrastructure, and enabling Korea’s participation in international AI projects.

Both parties plan to jointly prepare large-scale investments over the next five years to support the region’s AI-driven renewable energy transition.

BlackRock manages US$12.5 trillion in assets and, along with Microsoft, Nvidia, and xAI, has launched the AI Infrastructure Partnership to spearhead global investment in AI and renewable energy infrastructure.

Other attendees at the meeting included Korea’s Industry and Energy Minister Kim Jung-kwan, Democratic Party lawmaker Cha Ji-ho, Global Infrastructure Partners chairman Adebayo Ogunlesi, and former World Bank president Jim Yong Kim.

🔗 Source: The Korea Times

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