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President Lee Jae-myung poses for a commemorative photo with Larry Fink, Chairman of the World Economic Forum (WEF) and CEO of BlackRock, and Bae Kyung-hoon, Minister of Science and ICT, after signing an MOU on global cooperation in the AI industry in New York on September 22, 2025. (Photo = Yonhap News) |
[Alpha Biz= Lee Hyung Jin] New York/Seoul, September 22, 2025 – During his visit to New York for the United Nations General Assembly, President Lee Jae-myung met with Larry Fink, Chairman and CEO of BlackRock, the world’s largest asset manager, and agreed to cooperate in positioning Korea as the “AI capital of the Asia-Pacific region.”
To this end, both sides will immediately establish a joint task force (TF) to detail large-scale investment plans – including an initial multibillion-dollar pilot investment – and to advance the construction of hyper-scale AI data centers in Korea.
At a local press briefing, Ha Jung-woo, Senior Presidential Secretary for AI Future Strategy, explained that Chairman Fink expressed strong support:
“BlackRock will mobilize global capital to help Korea become the AI capital of the Asia-Pacific region.”
President Lee welcomed the commitment and invited Chairman Fink to visit Korea, stressing the importance of achieving tangible outcomes through close cooperation.
MOU on AI Cooperation and Data Center Development
Following the meeting, Korea’s Ministry of Science and ICT and BlackRock signed a memorandum of understanding (MOU) to strengthen global cooperation in the AI industry.
Key provisions include:
Establishing an Asia-Pacific AI Hub in Korea
Developing a hyper-scale AI data center powered by renewable energy to serve both domestic and regional AI demand
Preparing large-scale joint investments over the next five years to support AI development and the energy transition across the Asia-Pacific
Large-Scale Investments Expected
While the Presidential Office did not disclose exact figures, it noted that when a firm like BlackRock refers to “large-scale investment,” it typically means tens of trillions of Korean won. Officials added that at least several trillion won in pilot investments are expected in the near future.
The Korea–BlackRock joint TF will immediately begin work to outline implementation plans and announce the actual investment scale. Domestic companies will also be able to participate in the investment fund to be established.
Alphabiz 이형진 기자(magicbullet@alphabiz.co.kr)
