Naver, Brookfield accelerate $9b AI factory in Korea
Brookfield agreed to invest up to US$9 billion in the initial 200-megawatt phase at Naver’s Gak Sejong data center in Sejong City.
On Friday, Naver Board Chairman Lee Hae-jin met with Brookfield Asset Management CEO Bruce Flatt in Seongnam, Gyeonggi Province, to discuss Brookfield's investment commitment to an ambitious 1-gigawatt AI data center project. This project, a collaboration between Naver and Nvidia, aims to revolutionize the global AI infrastructure market.
Brookfield, a leading global alternative asset manager with over $1 trillion in assets under management, had previously committed up to $9 billion to the project's first phase, which accounts for 200 megawatts. During their meeting, Lee expressed his deep appreciation to Brookfield for supporting Naver's AI Factory vision through its investment decision.
He emphasized his hope that the two companies can achieve great success by merging Brookfield's extensive experience in infrastructure investment with Naver's cutting-edge AI technologies.
According to the source, during their discussions, Lee and Flatt agreed to establish a wholly owned subsidiary for Naver to operate the AI Factory in the first phase. Meanwhile, Brookfield will create a special purpose vehicle (SPV) to manage the project's financial aspects.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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