Alphabet Inc. Class C (GOOGL.US) plans to build the world's first AI park in South Korea, and DeepMind intends to deepen cooperation with Samsung, SK Hynix, LG, and other companies.

South Korean President's policy advisor Kim Yoo-fan said on Monday that South Korea and Alphabet Inc. Class C (GOOGL.US) have reached an agreement to build an artificial intelligence (AI) park in Seoul to promote cooperation between the tech giant and local engineers and startups in South Korea. Kim Yoo-fan stated that the AI park will be the first of its kind globally for Alphabet Inc. Class C. According to Kim Yoo-fan, South Korean President Lee Jae-myung met with Alphabet Inc. Class C DeepMind CEO Demis Hassabis in Seoul on Monday, and the South Korean Ministry of Science and ICT signed a memorandum of understanding with the company for the park's construction. President Lee Jae-myung stated that the South Korean government is highly focused on AI technology and is actively investing in related fields at a national level. However, whether AI will develop towards enhancing human well-being or towards disrupting world peace is unpredictable. Hassabis stated, "President Lee mentioned very important content, and I think AI should be actively used in the development of technology and medicine." The South Korean Ministry of Science and ICT signed a memorandum of understanding with DeepMind that day, agreeing to build a cooperation system to drive technological innovation. According to Kim Yoo-fan, Alphabet Inc. Class C will establish an "Alphabet Inc. Class C AI campus" in Seoul within the year to expand cooperation between researchers and startups. This will be the first overseas AI campus for DeepMind, apart from its headquarters in the UK, and holds significant importance. South Korea has requested that Alphabet Inc. Class C dispatch at least 10 engineers from its US headquarters to the AI park, which Hassabis said would be considered. President Lee Jae-myung and Hassabis exchanged views on the future of AI and its impact on humanity. President Lee Jae-myung proposed the introduction of a basic wage protection mechanism to address potential job losses due to AI. Hassabis expressed hope that through this collaboration, "With internship programs and other training programs offered by the AI center, we will help cultivate talent in the next generation who can master these cutting-edge technologies." Hassabis mentioned that DeepMind is looking to deepen its collaboration with Korean companies, including Samsung, SK Hynix, Hyundai's Boston Dynamics, and LG, and "foster new joint projects with them." He described South Korea as a strong industrial base in all key AI fields, from chips to Siasun Robot & Automation. Hassabis also referenced DeepMind's AlphaGo program's iconic match with Go player Lee Sedol in South Korea ten years ago, marking the beginning of the modern AI era and inspiring many advancements in the field, including its achievements in science, such as the AlphaFold system for protein folding prediction. Alphabet Inc. Class C is focusing on building a strong AI system. Recently, the company announced plans to invest up to $40 billion in Anthropic, further expanding their long-term partnership and strengthening their strategic position in AI competition. Under the agreement, Alphabet Inc. Class C will invest $10 billion at Anthropic's latest valuation of $380 billion, with the remaining $30 billion contingent on specific performance milestones. The construction of the first overseas AI park in Seoul is also an important step in accelerating Alphabet Inc. Class C's global AI ecosystem layout.