Overview
- Amazon Web Services will invest more than $5 billion by 2031 to build AI data centers in Incheon and Gyeonggi, confirmed after President Lee Jae Myung met CEO Matt Garman during the APEC CEO Summit in Gyeongju.
- Seven multinationals — AWS, Renault, Amkor, Corning, Air Liquide, Siemens Healthineers and Umicore — announced a combined $9 billion for priority sectors over the next five years, with $6.6 billion classified as foreign direct investment, according to the trade ministry.
- The new AWS commitment follows a previously announced $4 billion AI data hub in Ulsan with SK Group, reinforcing Korea’s position in the company’s regional cloud and AI network.
- Renault will convert existing lines at its Busan factory to produce electric vehicles, and Siemens Healthineers will establish a cardiac ultrasound plant in Pohang that is expected to create more than 400 jobs.
- Garman said AWS plans to invest over $40 billion across 14 APEC economies between 2025 and 2028, framing Korea’s build-out as part of a wider Asia-Pacific expansion.