Korea and BlackRock, the largest asset manager globally, have established a strategic alliance to establish the nation as the 'artificial intelligence (AI) hub in Asia' by making substantial joint investments in data centers and renewable energy.
The accord was reached at a gathering involving President Lee Jae Myung and Larry Fink, interim co-chair of the World Economic Forum and CEO of BlackRock. The president is traveling to New York City for the General Assembly of the United Nations.
In the discussions, the Korean government and BlackRock entered into an investment partnership memorandum of understanding, which emphasized a three-pronged strategy for joint development of data centers, positioning Korea as a hub in the Asia-Pacific that can address both local and regional demands, and allowing Korea to engage in global AI infrastructure initiatives.
"President Lee embraced the chance to work together in establishing Korea as the AI hub of the Asia-Pacific, urging for strong teamwork to achieve concrete outcomes. The president also invited Chairman Fink to come to Korea," stated Ha Jung-woo, senior presidential secretary for AI and future planning, during a press briefing in New York.
Also Read: A Study of Singapore's Leadership Strategy in Tourism in 2025
He mentioned that the contract outlines intentions to collaboratively develop, within the coming five years, substantial investments needed for the region's transition to AI-powered renewable energy.
Also Read: Why Apple is in an Unstable Position in China
In the meeting, Fink emphasized the interconnection of AI innovation and decarbonization, describing them as essential global priorities. He commended Korea’s proactive strategies in AI and energy transition and showed great enthusiasm for investing in the country’s AI and energy infrastructure.
The BlackRock team observed that Korea’s stock market reached record levels following Lee’s inauguration, indicating increasing political and economic stability. They expressed assurance in the nation’s future growth potential.
Also Read: 5 Interesting APAC CTO Appointments in August 2025
Adebayo Ogunlesi, chairman of Global Infrastructure Partners, former World Bank President Jim Yong Kim, and Democratic Party of Korea lawmaker Cha Ji-ho, who was part of the presidential delegation, also attended the meeting.