President Lee Jae Myung attended a launch ceremony on Friday for a joint investment by SK Group and Amazon Web Services to establish an artificial intelligence(AI) data center in the southeastern city of Ulsan.

In words of encouragement, Lee said South Korea had taken the first step to become one of the world’s three top AI nations.

Lee said that starting with the center, the government will promote private sector investment through bold tax breaks and regulatory innovation to build what he termed an “expressway in the AI era” that will drive the nation’s AI transformation.

The president added that the Ulsan AI data center will mark a significant milestone in the history of the nation’s industry. 

He expressed hope that with the successful model that SK and Amazon will create, outstanding South Korean companies and global firms will engage in stronger cooperation in the heated global AI race. 

Lee noted that it holds special meaning that the AI center is being built in Ulsan instead of the Seoul metro area, saying he hopes the center will greatly contribute to national balanced development and revitalization of local economies which his government has placed priority on.