Shandong High-Speed, the first Chinese public fund to make a financial investment in South Korea's renewable energy sector, has described the Korean market as an optimal investment destination with no financial risks and favorable geographical conditions. The company anticipates increased Chinese capital investment in various projects, particularly as artificial intelligence (AI) and renewable energy continue to expand.
In an interview with Aju Economy on July 20, Chairman Pan Yongmin stated, "There are about 100,000 Koreans and business operators in Shandong Province, and active business exchanges are taking place. We want to pursue various projects connecting energy and data centers in South Korea."
On the same day, Shandong High-Speed signed a memorandum of understanding for joint development of a 1-gigawatt (GW) renewable energy project with South Korean infrastructure development firm Yurim T&S. The company plans to invest up to 1 trillion won and is also seeking additional investment opportunities in South Korea.
Chairman Pan particularly praised South Korea's financial environment, saying, "Korea's finance has developed significantly compared to other countries in the global economy, and there are almost no risks involved. Investment in computing systems is also active, allowing us to make bold investment decisions."
The funding for Shandong High-Speed's renewable energy investments in South Korea will come from reinvesting profits earned from investments in companies like POSCO. The company aims to continue reinvesting based on a stable financial system and rapid infrastructure expansion.
Chairman Pan expressed interest in large projects that link energy and AI data centers. He noted, "In Singapore and China, there are many projects built at a 1:1.3 ratio between AI data centers and renewable energy. Since South Korea is actively expanding both renewable energy and AI data center projects, we would like to participate in many good projects if they arise."
He also mentioned the recent improvement in relations between the two countries. "Although the atmosphere between our two countries changes with each new government, the friendship of cooperation and support remains unchanged," he said. "With the current government improving relations, we can create more good business opportunities and projects."
He emphasized, "South Korea is a law-based society, and we always invest according to Korean law. Given its geographical advantages and lack of financial risks, we intend to continue investing actively in South Korea."
* This article has been translated by AI.
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