South Korea and BlackRock have entered into a partnership to position the nation as the “AI capital in Asia” through large-scale joint investments in data centres and renewable energy.

According to The Korea Times, the agreement was reached on Monday (September 22) during a meeting in New York between President Lee Jae Myung and Larry Fink, interim co-chair of the World Economic Forum and CEO of BlackRock, held on the sidelines of the United Nations General Assembly.

Under the memorandum of understanding signed between the Korean government and BlackRock, the partnership will pursue a three-pronged strategy: joint development of data centres, establishing Korea as a regional AI hub serving both domestic and Asia-Pacific needs, and participation in international AI infrastructure projects.

“President Lee welcomed the opportunity to cooperate in making Korea the AI capital of the Asia-Pacific region, calling for close collaboration to deliver tangible results. The president also extended an invitation for Chairman Fink to visit Korea,”

Ha Jung-woo, Senior Presidential Secretary for AI and Future Planning, told reporters in New York.

Ha added that the agreement includes plans to jointly prepare, over the next five years, large-scale investments to support the region’s AI-driven renewable energy transition.

Fink emphasised the close link between AI innovation and decarbonisation, describing them as global imperatives.

He commended Korea’s forward-looking policies in AI and energy transition and expressed strong interest in supporting the nation’s infrastructure in these areas.

The BlackRock delegation further noted that Korea’s stock market has reached record highs since Lee’s inauguration, citing the country’s political and economic stability as a foundation for long-term growth.

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