Andeokgeun Visits Export Site: "We Must Prepare to Discover New Export Engines"

AI Data Center Cooling System Developed as a Key Export Player
Focused Support Including 350 Billion Won Export Insurance and Overseas Client Consultations by Year-End

Anduk Geun, Minister of Trade, Industry and Energy, stated on the 2nd, "We must maintain a solid export growth momentum and prepare to discover new export growth engines to achieve the goal of becoming one of the top five export powers."

On the same day, Minister Anduk visited LG Electronics' Pyeongtaek Chiller Plant and said, "Despite ongoing external uncertainties such as global high interest rates and inflation, the U.S. presidential election, the Russia-Ukraine war, and the Middle East situation throughout this year, our exports are expected to continue a positive trend for 14 consecutive months in November and maintain a trade surplus for 18 consecutive months."

Anduk Geun, Minister of Trade, Industry and Energy. (File photo)

The LG Electronics Pyeongtaek Chiller Plant visited by Minister Anduk is a key base for producing chillers (devices that supply cooling water through pipes to prevent overheating of internal equipment in data centers) for artificial intelligence (AI) data centers, achieving tangible results such as securing contracts with leading U.S. big tech companies' data centers.

Minister Anduk said, "Data centers are core infrastructure for implementing AI, and the Ministry of Trade, Industry and Energy has recognized AI semiconductors, power equipment, and cooling systems as three strategic items that can be nurtured as next-generation export engines by leveraging the global AI boom, and has been providing focused support. AI semiconductors are expected to break the highest export records, thanks to high-bandwidth memory (HBM) led by domestic companies."

He continued, "Power equipment, essential for stable power supply to data centers?often called 'electricity guzzlers'?has become a key export item for Korea, reaching $15.1 billion as of 2023. Now, cooling systems, which are rapidly growing as solutions to heat issues, must be developed as leading players in our exports," he emphasized.

The Ministry of Trade, Industry and Energy plans to intensively support export insurance worth a total of 350 billion KRW for cooling systems such as chillers and precision air conditioners by the end of the year. Additionally, it will actively support Korean companies' entry into the global data center market by discovering new overseas data center construction projects using KOTRA trade offices, inviting ordering parties, and holding consultation meetings. Minister Anduk stated, "We will also fully support strengthening the competitiveness of cooling systems by providing 130 billion KRW to secure core technologies such as advanced cooling system technology and 18 billion KRW for demonstration of cutting-edge cooling systems like immersion cooling."

This content was produced with the assistance of AI translation services.