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South Korea, BlackRock Sign MOU to Pursue Renewables-Powered Hyperscale AI Data Centers

The preliminary deal starts formal planning for renewable‑powered hyperscale facilities with a potential role in a global AI infrastructure network.

President Lee Jae Myung (C) poses for a photo with Bae Kyung-hoon (R), minister of science and ICT, and BlackRock CEO Larry Fink after Bae and Fink signed a memorandum of understanding on an artificial intelligence partnership on Sept. 22, 2025. (Pool photo) (Yonhap)
President Lee Jae Myung (C) speaks with BlackRock CEO Larry Fink (L) at a hotel in New York on Sept. 22, 2025. (Pool photo) (Yonhap)
Ha Jung-woo (C), senior presidential secretary for AI policy and future planning, briefs on President Lee Jae Myung's meeting with BlackRock CEO Larry Fink in New York on Sept. 22, 2025, to discuss a partnership in artificial intelligence. (Yonhap)

Overview

  • President Lee Jae Myung met BlackRock CEO Larry Fink in New York on Sept. 22 to discuss cooperation on artificial intelligence and clean energy.
  • Following the talks, the Ministry of Science and ICT signed an MOU with BlackRock to explore building hyperscale AI data centers in South Korea to serve domestic and wider Asia-Pacific demand.
  • The plan contemplates integrating data centers with renewable generation and storage and preparing large-scale investment plans over the next five years.
  • The presidential office said the envisioned hub targets completion within a decade, with specific financing, sites and technical details still under discussion.
  • A task force will draft action plans for a pilot investment estimated at several trillion won, and attendees included Adebayo Ogunlesi and former World Bank President Jim Yong Kim.