Hyundai Motor Group is pushing a multitrillion-won investment in Saemangeum, North Jeolla Province, to expand its artificial intelligence, hydrogen and robotics businesses.
Government and business officials said Monday the group is preparing to sign a memorandum of understanding with the Ministry of Trade, Industry and Energy, the Ministry of Climate, Energy and Environment, North Jeolla Special Self-Governing Province and the Saemangeum Development and Investment Agency on investing several trillion won in the area to foster future businesses.
The likely focus is AI, hydrogen and robotics, which Hyundai Motor Group has identified as key growth areas. The exact amount has not been set, but officials expect it to reach several trillion won. The group has previously announced plans to invest a total of 125.2 trillion won in South Korea through 2030 over five years.
Saemangeum is seen as a strong candidate for building hubs tied to the group’s priority growth engines, including AI, software-defined vehicles, electrification, robotics and hydrogen. Of the 125.2 trillion won plan, Hyundai Motor Group has pledged to spend 50.5 trillion won in those fields.
When it announced the investment plan, the group said it would consult with the government and local authorities and consider investments to help create a “hydrogen AI new city” that applies its core technologies, including AI, hydrogen and V2X.
The Saemangeum area is expected to attract facilities such as an AI data center, a physical AI application center, a robot factory and a water electrolysis plant. Saemangeum, with land about 140 times the size of Seoul’s Yeouido and ample sunlight, is considered favorable for building power-hungry AI data centers. Plans for robot manufacturing and foundry plants have also been discussed as part of a push to become a physical AI company.
A Hyundai Motor Group official said the company is reviewing investment plans in various ways to help boost regional economies, adding that no specific plan related to Saemangeum has been confirmed.
* This article has been translated by AI.
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