Officials are assessing support for a private-led 8.4 GW AI data center buildout as South Korea also expands AI semiconductor cooperation with AMD and other U.S. technology companies.
South Korea is reviewing whether to use the National Growth Fund to support a 550 trillion won, or about $374.4 billion, AI data center buildout led by SK Group, GS Group and Naver, with first-phase capacity of 8.4 gigawatts targeted to begin operations as early as 2029. A pan-ministerial task force involving the Ministry of Science and ICT, Ministry of Trade, Industry and Energy and Financial Services Commission has been assessing companies' financing needs since mid-month, while a senior official said the government plans to actively cooperate if formal support requests are made. The review comes as South Korea deepens AI ties with U.S. firms, including a July 23 memorandum of understanding with AMD signed at the "AMD Advancing AI 2026" event in San Francisco to link domestic NPUs with AMD CPUs and GPUs, establish an AI Center of Excellence, support AI for Science through NAIS and hold quarterly working-level meetings.