AWS Commits $5 Billion Investment to Build AI Data Centers in South Korea by 2031

Amazon Web Services to invest $5 billion in South Korea, presidential office says

Amazon Web Services plans to invest at least $5 billion in South Korea by 2031 to establish new artificial intelligence data centers. This significant investment, announced during a meeting between AWS CEO Matt Garman and South Korean President Lee Jae Myung, aims to bolster the nation's AI industry and accelerate its growth as a global AI leader. Amazon Web Services will invest at least $5 billion in South Korea by 2031 to build new artificial intelligence data centres in the Asian country, South Korea's presidential office said on Wednesday. The announcement was made during AWS chief executive officer Matt Garman's meeting with South Korean President Lee Jae Myung on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, Lee's office said in a statement. Amazon is one of seven global firms whose executives attended the group meeting with Lee in Gyeongju, South Korea, and pledged a total of $9 billion in investments for the next five years, the presidential office said. Amazon's investment will accelerate the growth of an ecosystem for the AI industry in South Korea, as the country aims to become one of the world's top three AI leaders, Lee said at the meeting with Garman. "At AWS, we've invested and committed to investment of an additional $40 billion across 14 non-U.S. APEC countries and economies between now and 2028," Garman said. "And, that $40 billion actually drives an additional $45 billion in U.S. GDP and downstream benefit, benefiting all of the APEC economy," he said at a business event on the sidelines of the summit. AWS unveiled in June a $5 billion investment plan in South Korea with local conglomerate SK Group for building the country's biggest data centre. It has also announced investments in other countries including Japan, Australia and Singapore.

Amazon Web Services To Invest At Least $5 Billion In South Korea's AI Sector By 2031 - Alibaba Gr Hldgs (NYSE:BABA), Amazon.com (NASDAQ:AMZN)

Amazon.com Inc.'s (NASDAQ:AMZN) cloud computing unit has committed to investing a minimum of $5 billion in South Korea by 2031 to establish new artificial intelligence (AI) data centers. AWS Investment To Boost Billions In US GDP Amazon Web Services (AWS) CEO Matt Garman and South Korean President Lee Jae Myung announced the move at the Asia-Pacific Economic Cooperation (APEC) 2025 summit on Wednesday, according to Reuters, citing the South Korean presidential office. The new data centers will be located on the outskirts of Seoul. Garman also revealed AWS's broader investment plans, stating, "At AWS, we've invested and committed to investment of an additional $40 billion across 14 non-U.S. APEC countries and economies between now and 2028." He also stated that the move is expected to generate an additional $45 billion in U.S. GDP and create broader downstream gains for the APEC region. Meanwhile, Lee expressed that Amazon's investment would accelerate the growth of South Korea's AI industry ecosystem, aligning with the nation's goal to be among the top three AI leaders globally. Amazon was among seven global companies that have collectively committed $9 billion in investment over the next five years. See Also: Oracle's 500% Debt-To-Equity Ratio Signals Massive Borrowing, Warns JPMorgan: Debt Levels 'Much Higher' Than AI Peers South Korea Doubles Down On AI Infrastructure The investment by AWS comes amid a surge in AI-related activities in South Korea. Earlier in June, Alibaba Group Holding's (NYSE:BABA) cloud unit announced plans to launch its second data center in South Korea to capitalize on the AI frenzy. The company committed at least $53 billion over the next three years towards AI infrastructure ambitions. In October, OpenAI, backed by Microsoft (NASDAQ:MSFT) and NVIDIA (NASDAQ:NVDA), partnered with Samsung Electronics (OTC:SSNLF) and SK Hynix to construct a dedicated AI data center in southwest Korea. The AWS investment announcement also comes a day before Amazon's Q3 earnings report, which is being closely watched amid recent negative headlines about AWS outages and job cuts. Analysts expect the company to report third-quarter revenue of $177.72 billion, with the earnings report due after the market close on Thursday. Benzinga's Edge Rankings place Amazon in the 93rd percentile for growth and the 46th percentile for value, reflecting its mixed performance. Check the detailed report here. READ NEXT: Amazon, UPS Slash Desk Jobs: AI Is Coming For Your Manager Image via Shutterstock Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. AMZNAmazon.com Inc$232.581.45%OverviewBABAAlibaba Group Holding Ltd$180.422.09%MSFTMicrosoft Corp$544.800.50%NVDANVIDIA Corp$208.563.75%SSNLFSamsung Electronics Co Ltd$42.480.34%Market News and Data brought to you by Benzinga APIs

AWS pledges record-breaking $5 bil. investment for new AI data centers in Korea - The Korea Times

GYEONGJU, North Gyeongsang Province -- President Lee Jae Myung met with Amazon Web Services (AWS) CEO Matt Garman and executives from seven global companies on Wednesday in Gyeongju, securing multibillion-dollar investment commitments to strengthen Korea's role as a leading hub for artificial intelligence (AI) and advanced industries. During a meeting, Garman announced that AWS plans to make an additional investment of more than $5 billion by 2031 to establish new AI data centers in Incheon and Gyeonggi Province. The move follows the company's $4 billion investment in June to build an AI data center in Ulsan, marking the largest greenfield investment in Korea's history. The tech giant's investment indicates its confidence in Korea's strong growth potential and competitiveness in the AI industry, as well as the government's determination to advance AI sector development. "(AWS) is very excited about the potential here in Korea and is making very large investments for the country here and for AI," Garman said during the meeting. "And as part of that, we'll be committing to invest 5 billion dollars in additional AI infrastructure here in the country to help grow that technology." President Lee noted that AWS' latest commitment will help accelerate the country's drive to become one of the world's top three AI powerhouses with initiatives such as the development of an AI expressway, which will allow AI to be utilized by industries and research fields throughout the nation. "The greatest task facing the Republic of Korea right now is to recover our economy and continue growth. At the center of our recovery and growth is advanced science and technology, and I believe a core part of that is AI data," Lee said. "It is a great pleasure to know that the Republic of Korea and AWS will share our future together." Following the meeting with AWS, President Lee joined the global business investment partnership event to meet with executives from seven global companies, which announced investment plans totaling $9 billion over the next five years. The investments will be directed to key strategic sectors that the government has prioritized for development, such as AI, semiconductors, secondary batteries, future mobility and biotechnology. As part of this initiative, the companies -- AWS, Renault, Amkor Technology, Corning, Air Liquide, Siemens Healthineers and Umicore -- filed foreign direct investment reports totaling $660 million to be injected in the near term. The executives emphasized to President Lee that Korea serves as a key hub in their global strategies, expressing confidence that the new investments would strengthen production capacity within Korea. Nicolas Paris, CEO of Renault Korea, said that Renault Group has designated Korea as one of its five key global strategic hubs, eyeing it as a vital part of the company's future mobility strategy. The company plans to convert the existing production lines of its Busan factory to produce electric vehicles (EV). Siemens Healthineers Asia-Pacific President Vy Tran also shared plans to invest $50 million in Korea, expanding its production lines for cardiac ultrasound device components in Pohang, North Gyeongsang Province. Karena Cancilleri, executive vice president of the Belgium-based materials technology company Umicore, said that the company will expand current production capacity from 35 gigawatts to 40 gigawatts, enough to supply batteries for 500,000 EVs each year. Amkor Technology plans to expand its semiconductor back-end facilities, Corning will invest in advanced materials manufacturing for mobile devices, and Air Liquide will expand its semiconductor specialty gas plant, moves that are expected to strengthen the stability of Korea's high-tech supply chains.

Amazon to pour another $5 bln into South Korea data centers By Investing.com

Investing.com-- Amazon.com Inc (NASDAQ:AMZN) will invest an additional $5 billion in South Korea to expand its data center infrastructure, the country's presidential office said on Tuesday, marking another major push by the U.S. tech giant to strengthen its cloud and artificial intelligence operations in Asia. The announcement came after a meeting between Amazon Web Services (AWS) chief executive Matt Garman and South Korean President Lee Jae-myung in Gyeongju. The investment will fund the construction of new AI-focused data centers and digital infrastructure by 2031, the office said in a statement. The latest commitment comes on top of a $4 billion investment plan announced in June, under which AWS and South Korea's SK Group agreed to jointly build a large-scale data center complex in Ulsan. President Lee said the project underscores South Korea's ambition to become one of the world's top three AI powerhouses. The new facilities are expected to enhance domestic data-processing capacity and accelerate growth in cloud computing and generative AI services. AWS said the investment is part of a broader effort to expand across the Asia-Pacific, with additional projects planned in 14 APEC economies through 2028.

Amazon subsidiary to invest $5 billion in South Korea, presidential office says

GYEONGJU, South Korea (Reuters) -Amazon Web Services will invest at least $5 billion in South Korea by 2031 to build new artificial intelligence data centres in the Asian country, South Korea's presidential office said on Wednesday. The announcement was made during AWS chief executive officer Matt Garman's meeting with South Korean President Lee Jae Myung on the sidelines of the Asia-Pacific Economic Cooperation summit, Lee's office said in a statement. Amazon is one of seven global firms whose executives attended the group meeting with Lee in Gyeongju, South Korea, and pledged a total of $9 billion in investments for the next five years, the Korean presidential office said. Amazon's investment will accelerate the growth of an ecosystem for the AI industry in South Korea, as the country aims to become one of the world's top three AI leaders, Lee said at the meeting with Garman. AWS unveiled in June a $5 billion investment plan in South Korea with local conglomerate SK Group for building the country's biggest data centre. (Reporting by Heejin Kim; Editing by Himani Sarkar)