Hyundai Motor Group to establish two SPCs for AI data center project
SEOUL, Oct. 30 (Yonhap) -- Hyundai Motor Group said Friday it plans to establish...
Hyundai Motor Group announced plans to establish two special purpose companies next month to develop and manage an artificial intelligence (AI) data center in Saemangeum. This move is part of the company's ambitious 9 trillion won ($6.3 billion) strategy to transform the vast reclaimed coastal zone into a leading tech hub. Located in North Jeolla Province, approximately 200 kilometers south of Seoul, Saemangeum is a government-backed development area formed by damming tidal flats to create new land from the sea.
The region has been earmarked for economic diversification, targeting high-tech industry, renewable energy, and tourism sectors. Five affiliates from the Hyundai Motor Group - Hyundai Motor, Kia, Hyundai Mobis, Hyundai Engineering & Construction, and Hyundai AutoEver - have finalized their decision to invest in the AI data center.
Hyundai AutoEver, the company's IT and software affiliate, secured its participation via a board resolution. One of the newly formed entities will oversee the construction of the hyperscale data center and its supporting infrastructure, while the other will be responsible for acquiring necessary resources.
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.
Also reported by 1 other outlet
- Hyundai Motor advances $6.3 bil. AI hub in Saemangeum koreatimes.co.kr
