Keppel enters South Korea data centre market with planned 60MW facility
The South Korean data centre industry is growing swiftly, claimed Keppel, backed by cloud move, AI adoption and the nation’s ambition to end up being a worldwide AI powerhouse. In the SMA, information centre power demand is expected to strike 2.3 GW by 2030, generated by demand from both international and domestic companies.
The SMA information center landscape uses a compelling entry point for Keppel, observes Lee Hui Fang, chief investment police officer for data centres at Keppel. “By securing limited power in a shovel-ready location, we are improving our deep capabilities in data centre fund regulation and development to capture the complete upside of Korea’s electronic change,” she includes.
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Singapore-based asset executive Keppel has announced that its exclusive fund, Keppel Data Centre Fund III (KDCF III), has obtained a property plot in Ansan, inside the Seoul Metropolitan Area (SMA) in South Korea. The site is going to be utilized to develop a 60MW greenfield data facility, noting the company’s very first venture into South Korea’s information center market.
The Ansan center are going to sign up with Keppel’s occurring profile of 39 information centers, which had an overall gross power capacity of over 800MW as by the end of 2025. The plan even marks the 2nd financial investment by KDCF III, whose fund under supervision has increased to somewhere around $2.7 billion since the end of 2025.
KDCF III will get a 73% effective risk in a significant purpose vehicle that operates the land. The lasting 27% is carried by a consortium of South Korean business, consisting of developer Shinyoung, financial solutions firm NH Securities and construction firm Hyundai E&C.
The future center on the site will be an AI-ready data centre, stated Keppel in a June 9 release. Built with Tier III-equivalent specs, the information centre are going to be topped to serve hyperscalers, cloud service providers and corporates.
Construction permits and power approvals have actually been secured for the site, with the information center intended to be functional by 2030.
Simultaneously, brand-new information centre source in the SMA is limited as regulatory requirements and power constraints have stopped new developments. March information from JLL indicates that the SMA information centre market has a vacancy price of just 1.4%, while the entire supply pipe across 2025 to 2027 has already been totally pre-leased.
