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Market Chatter: AI Data Centers, Chip Expansion Set To Drive South Korea Power Demand

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South Korea's power demand could surge 25 gigawatts to 30 GW from AI alone as Samsung Electronics and SK Hynix expand chip production and new AI data centers emerge, Reuters reported Tuesday, citing an interview with the Minister of Climate, Energy and Environment Kim Sungwhan.

Kim added that Nvidia (NVDA) and other US technology companies are considering South Korea for data center investments, encouraged by the country's reliable power supply. South Korea also expects power demand to rise as consumers shift to electric vehicles and electric heating, the report added.

South Korea plans to update its long-term energy roadmap through 2040 next month, with nuclear expansion under review, though Kim did not specify how many new reactors the country needs, but called nuclear power essential to the energy mix.

South Korea's Ministry of Climate, Energy and Environment News did not immediately reply to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $227.24, Change: $-3.12, Percent Change: -1.35%

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