Amazon Web Services (AWS) will invest at least five billion dollars in South Korea by the year 2031. The investment will be used to build new artificial intelligence data centres in the country. This was announced by South Korea’s presidential office.
The announcement was made during a meeting between AWS chief executive officer Matt Garman and South Korean President Lee Jae Myung. The meeting took place during the Asia Pacific Economic Cooperation summit. The presidential office said that Amazon is one of seven global firms that took part in a group meeting with President Lee in Gyeongju. These companies have pledged a total of nine billion dollars in investments for the next five years.
President Lee said that AWS’s investment will help the growth of an ecosystem for the artificial intelligence industry in South Korea. The country aims to become one of the top three artificial intelligence leaders in the world.
Matt Garman said, “At AWS, we have invested and committed to investment of an additional forty billion dollars across fourteen non U S APEC countries and economies between now and 2028.” He also said, “And, that forty billion dollars actually drives an additional forty five billion dollars in U S GDP and downstream benefit, benefiting all of the APEC economy.”
In June, AWS announced a five billion dollar investment plan in South Korea with local company SK Group to build the country’s biggest data centre. The company has also announced other investments in Japan, Australia and Singapore.
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