Amazon to invest over $45 billion across APEC countries

Amazon will invest over $5 billion to build AI data centers in South Korea by 2031, Seoul said Wednesday, calling it the country's largest-ever foreign investment. The commitment was announced by Matt Garman, head of Amazon Web Services, during a meeting with South Korean President Lee Jae Myung in Gyeongju on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit.

"Garman unveiled plans to invest more than US$5 billion by 2031, including the construction of new AI data centres in the Incheon and Gyeonggi regions," Lee's office said, referring to areas near Seoul. It marks the largest direct foreign investment in South Korea, the statement added, overtaking the previous record set by Amazon in June when it pledged $4 billion for another AI data centre in Ulsan.