After announcing a new round of layoffs to reduce costs and accelerate AI investments, the US e-commerce group Amazon plans to invest more than five billion US dollars (4.6 billion euros) in the construction of AI data centers in South Korea by 2031. The Asian country announced this on Wednesday.
Matt Garman, head of Amazon Web Services, made the commitment during a meeting with South Korean President Lee Jae Myung in Gyeongju. The meeting took place on the sidelines of the Asia-Pacific Economic Cooperation (APEC) Forum summit.
“Garman has unveiled plans to invest more than $5 billion by 2031, including building new AI data centers in the Incheon and Gyeonggi regions,” Lee’s office said. These are two areas near Seoul.
According to a government statement, it is the largest foreign direct investment in South Korea.
“Our government is committed to becoming one of the top three AI world powers,” Lee told the Amazon executive, according to the statement.
“Amazon’s major investment in AI data centers will further accelerate the development of Korea’s AI ecosystem,” he added.
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