Billionaire Chey’s SK Group Partners With Amazon To Build A $5 Billion AI Data Center In Korea
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Chey Tae-won, chairman of SK Group. SeongJoon Cho/Bloomberg South Korean billionaire Chey Tae-won’s SK Group has teamed up with Amazon Web Services, the cloud service arm of Amazon, to invest 7 trillion won ($5.1 billion) to build an AI data center in South Korea. The AI data center will be located in the southern Korean city of Ulsan, a major industrial hub, the country’s Ministry of Science and ICT said in a statement on Friday. The facility will begin construction in September and be fully operational by early 2029 with a capacity of more than 100 megawatts. AWS will contribute $4 billion to the project, the ministry added. In a separate statement on Sunday, SK Group said the Ulsan data center is a 15-year project between the semiconductor-to-telecoms conglomerate and AWS to support Korea’s AI development with fast networks, advanced computer chips and efficient energy systems. Chey, chairman of SK Group, wrote in a LinkedIn post on Sunday that the Ulsan data center will accelerate AI development and that his company “is uniquely positioned” to meet the demands for AI infrastructure. “At the Ulsan AI Data Center, this synergy will be realized through SK Hynix’s high-bandwidth memory, SK Telecom and SK Broadband’s extensive operational expertise, and SK Gas and SK Multi Utility’s support for stable power and infrastructure—all coming together to deliver the scale and performance needed for AI’s exponential growth trajectory,” Chey wrote. SK Group is among the Korean companies investing heavily in AI and related infrastructure. Last year, the conglomerate said it will invest 82 trillion won by 2026 in high-bandwidth memory (HBM) chips, which are essential components for AI chips, as well as data centers and personalized AI assistant services. SK Group has also been investing in AI startups, including search engine Perplexity and video search company…
Filed under: News - @ June 23, 2025 9:26 am