Naver Secures $270M Loan for AI Data Center Expansion

South Korean tech firm Naver has secured a loan of 400 billion won (approximately $270 million) from the Public Growth Fund to finance the expansion of its AI data center in Sejong. This funding, which has been approved by the Financial Services Commission (FSC), will support the development of the Gak Sejong facility, which aims to increase its server capacity to 600,000 machines. The center is designed to withstand significant seismic activity and is expected to deliver crucial infrastructure for Naver's AI model development, including the deployment of advanced GPUs.

This investment marks a strategic move by the South Korean government to enhance domestic AI capabilities and mitigate dependency on major global tech companies. By facilitating the establishment of large-scale AI data centers, the FSC aims to bolster national AI autonomy and reduce reliance on foreign infrastructure. This funding not only strengthens Naver's position in the AI landscape but also sets a precedent for future governmental support for home-grown tech initiatives.