Japanese telecommunications and Internet company SoftBank Group has announced its plan to invest $4.5 billion in South Korea's technology sector.

A spokesperson for SoftBank revealed that the company's founder and CEO Masayoshi Son told South Korean President Park Geun-hye that he intends to invest in smart robots, artificial intelligence and "Internet of Things." He added that the investment would cover approximately 30 years of technological advancement.

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Son is said to have also discussed the "Internet of Things" and South Korea's semiconductor industry with the Samsung's vice chairman Lee Jae-yong.

This is not the first time the Japanese conglomerate would fund projects in South Korea. In 2015,  SoftBank made its largest internet investment in South Korea worth $1 billion to Coupang, which is the biggest mobile-commerce company in the country.

SoftBank recently acquired ARM Holdings PLC, a chipmaker based in the United Kingdom for $32 billion. This is said to be the largest buyout in the European technology industry. The acquisition is expected to help the company create artificial-intelligence functions in devices that contain chips made by ARM.

SoftBank is known for products carrying artificial intelligence which include Pepper, a human-like robot capable of sensing human feelings.