President Lee Jae-myung and BlackRock MOU: Positioning Korea as a Comprehensive Investment Hub in Asia-Pacific

President Lee Jae-myung on September 24 met with Larry Fink, Chairman of BlackRock, the world’s largest asset manager, and unveiled his vision to position Korea as the “premier investment hub of the Asia-Pacific.” On this occasion, the Korean government and BlackRock signed a memorandum of understanding (MOU) aimed at expanding cooperation in capital attraction, renewable energy, AI-related infrastructure, and broader industrial development.

During the meeting, President Lee emphasized that “in this era of global transformation, Korea must establish itself as a central hub in the Asia-Pacific region,” underscoring the importance of close coordination between the public and private sectors to deliver tangible outcomes. BlackRock expressed support for this vision and committed to expanding its investment presence in Korea. Importantly, the scope of investment was presented not only in strategic industries such as AI and renewable energy but also in culture, the arts, and creative sectors.

This development represents a decisive turning point. Until now, BlackRock’s activity in Korea had largely been limited to equity investments in listed companies amounting to approximately KRW 37 trillion. The MOU demonstrates that Korea has established itself as a credible and trusted investment destination in the international market, capable of attracting one of Wall Street’s largest players into long-term strategic commitments.

The Korean government is preparing to establish a comprehensive task force to accelerate follow-up measures. Alongside the Ministry of Science and ICT and the Ministry of Economy and Finance, the forthcoming Ministry of Climate, Environment and Energy is expected to participate. The Ministry of Culture, Sports and Tourism will also join, signaling recognition that culture and the arts are considered stable and promising areas for significant investment.

BlackRock is expected to leverage its AI Infrastructure Partnership, which includes NVIDIA, Microsoft, xAI, and Abu Dhabi’s MGX. Through Global Infrastructure Partners, now part of BlackRock, institutional capital will be directed into Korean projects. The investment model envisaged is open and multi-tenant, designed to be accessible to a wide range of enterprises. Such infrastructure, while primarily serving industrial purposes, also provides a foundation for the growth of creative industries and digital content ecosystems that depend on advanced computing and energy resources.

After years of limited engagement in Korea, BlackRock’s renewed commitment sends a strong signal to global markets. It underscores that Korea is not only a trusted market but also one of the premier investment hubs in Asia-Pacific.

Alongside BlackRock, other global asset managers are also expanding their presence in Korea. Blackstone, for example, recently acquired Juno Hair, a leading Korean beauty company, highlighting the international growth potential of the K-beauty industry. While the areas of focus differ, these developments together reflect a widening recognition that Korea represents a strategic destination for diverse capital deployment, spanning technology, culture, and lifestyle sectors.

Analysts note that the MOU marks more than a financial arrangement. It represents a structural reappraisal of Korea’s role within global capital flows. When government strategy, cultural achievements, and private-sector innovation converge, Korea is positioned to evolve into a new global hub where industry and culture advance together.

Korea is now developing a growth model shaped by the intersection of capital and creativity. By leveraging its technological infrastructure and cultural assets, the country is moving beyond its traditional industrial base and positioning itself as both a center of cultural economy and a global investment hub, firmly situated at the crossroads of Asia-Pacific and the world.