Busan-Jinhae Free Economic Zone Authority, Microsoft Korea Discuss Investment Cooperation

[Financial News] The Busan-Jinhae Free Economic Zone Authority met with Wonwoo Cho, CEO of Microsoft Korea, on the afternoon of the 29th to discuss investment in data centers within the Busan-Jinhae Free Economic Zone and ways to expand cooperation going forward.
The meeting was arranged to discuss changes in the investment environment and cooperation measures linked to Microsoft Korea's investment in the Busan area, as data centers emerge as key industrial infrastructure amid the rapid growth of the artificial intelligence (AI) industry.
Microsoft Korea completed its first data center in the International Industrial Logistics City in Gangseo District, Busan, in 2020, followed by a second data center in 2024.
As the spread of generative AI and cloud services drives a sharp increase in demand for data processing and computing, data centers have become key infrastructure supporting the competitiveness of the AI industry.
Park Seong-ho, head of the Busan-Jinhae Free Economic Zone Authority, and CEO Cho exchanged views on stable support for data center investment and operations in Busan, changes in the investment environment resulting from the growth of the AI and cloud industries, the balanced growth strategy under the Five Mega-Regions and Three Special Self-Governing Provinces Policy, support policies for regional investment companies, corporate investment conditions such as power supply and regionally differentiated industrial electricity rates, and the development of local talent and a digital industry ecosystem.
The authority plans to listen to Microsoft Korea's investment-related difficulties and feedback from the field, and continue seeking support measures with relevant agencies in connection with the company's future investment plans.
[email protected] Kwon Byeong-seok Reporter