President Lee celebrates launch of mega AI data center in Ulsan amid economic challenges

President Lee Jae Myung has once again pledged full support for the AI industry to realize the goal of South Korea becoming the world's top AI powerhouse.

Our senior correspondent Yoon Jung-min leads us tonight.

A day after returning home from his trip to the G7 summit in Canada, President Lee Jae Myung chose the country's southeastern industrial city of Ulsan for a visit, where a ceremony took place on Friday to celebrate the launch of a mega AI data center, as the country faces daunting economic challenges.

"Korea has grown rapidly, but now we seem to be climbing uphill. Depending on how we prepare, we can move on to a completely new world, or we might end up sliding backward."

Making Korea one of the world's AI powerhouses was among Lee's pledges during his presidential campaign.

Accompanying the president were the CEOs of major companies, including SK Chairman Chey Tae-won and Kakao CEO Chung Shin-a, as the business leaders pitched their ideas.

"I hope the government expands the "AI one-stop vouchers" so that start-up businesses can easily use AI infrastructure at a lower cost. In tandem with the government's creation of a national AI fund, I hope we can nurture as many as 20-thousand AI start-ups over the course of the next five years."

Chey also asked for an "AI government," meaning more AI applications and services used by the public sector.

Dubbed the "AI highway," the 100-megawatt AI data center in Ulsan is a joint project between SK Group and Amazon Web Services (AWS), worth over 5-billion U.S. dollars in investment to meet increasing AI demand at home.

There are plans to expand to 1-gigawatt later down the line.

"Through bold tax breaks and regulatory innovation, we will promote private investment and build an AI-era highway for Korea's successful AI transformation."

He went on to ensure that every person in the country can harness the benefits of AI in their daily lives.

The President did not forget to put particular emphasis on his in-person visit to the region, as he says Korea's cutting-edge technology can prosper also in areas outside the capital region.

Yoon Jung-min Arirang News.