South Korean automotive giant Hyundai Motor Group announced Friday a massive investment agreement worth approximately $6.26 billion to develop cutting-edge technology facilities along the nation’s western coastline.
The comprehensive development plan, valued at 9 trillion won, was formalized through an agreement between Hyundai and the South Korean government, according to the country’s land ministry.
The investment breakdown includes several major components. Hyundai will allocate roughly 5.8 trillion won toward constructing an artificial intelligence data center equipped with 50,000 graphics processing units. Additionally, the company plans to spend 400 billion won on establishing a robotics manufacturing facility that will produce various types of robots, including wearable technology.
The project also encompasses significant renewable energy investments, with 1 trillion won designated for hydrogen production facilities and an additional 1.3 trillion won earmarked for solar power generation infrastructure.
The development will take place in the Saemangeum region, an ambitious land reclamation initiative that launched over two decades ago along South Korea’s western shoreline. Originally designed to create additional agricultural land, the project later evolved to attract industrial development to an economically disadvantaged area.
The Jeolla provinces, where this massive development will occur, have historically served as a political stronghold for South Korea’s liberal parties, including the Democratic Party led by President Lee Jae Myung.
