Brian Koo announces USD $35bn AI data hub in South Korea

Brian Koo, a member of the LG Electronics family, has announced a venture that includes an agreement with the South Korean government to establish the world's largest AI data centre in Jeollanam-do. This development is set to be a USD $35 billion project.

The new venture, Fir Hills, is part of Stock Farm Road, co-founded by Brian Koo and Dr. Amin Badr-El-Din. It has signed a Memorandum of Understanding with Governor Kim of the Jeollanam-do Province to construct a state-of-the-art AI data centre, which will be operational by 2028.

The project is initially valued at over USD $10 billion, potentially growing to USD $35 billion. The centre will have a capacity of 3 gigawatts and is expected to generate an initial annual revenue of USD $3.5 billion.

The development of this facility is projected to create over 10,000 jobs in areas such as Energy Supply and Storage (ESS), renewable energy production, equipment supply, and research and development. The data centre will serve millions of users, including hundreds of large corporations and developers.

The data centre services market will reach USD $438.3 billion by 2030. As part of this rapidly expanding industry, the 3GW data centre will significantly contribute to the future of digital infrastructure.

Dr. Amin Badr-El-Din emphasised the importance of the project: "This is more than just a technological milestone; it's a strategic leap forward for Korea's global technological leadership. We are incredibly proud to partner with Stock Farm Road and the Jeollanam-do government to build this crucial infrastructure, creating an unprecedented opportunity to build the foundation for next-generation AI."

The collaboration will utilise the strengths of both parties, with Stock Farm Road's experience in transforming energy infrastructure into intelligence through its Energy-to-Intelligence engine and leveraging its financial resources and understanding of both Asian and Western markets.

Brian Koo commented on the project's potential impact: "Having witnessed firsthand the immense technological capabilities of large Asian enterprises, I recognise the potential of this project to elevate Korea and the region to a new level of technological advancement and economic prosperity. This data centre is not merely an infrastructure project, but the launchpad for a new digital industrial revolution."

The Jeollanam-do government has facilitated the project by securing necessary permits and ensuring resource access, highlighting the commitment of local and national leaders to drive technological innovation and economic growth.

This initiative is the first phase of Stock Farm Road's global strategy to establish similar AI infrastructure partnerships in Asia, Europe, and the United States over the next 18 months. The plan demonstrates a commitment to fostering cross-cultural cooperation and advancing technology by merging traditional industries with future technological developments.