Keppel enters South Korea data centre market with planned 60MW facility
The South Korean data centre market is expanding rapidly, stated Keppel, supported by cloud move, AI adoption and the country’s aspiration to become a global AI giant. In the SMA, information centre strength need is expected to strike 2.3 GW by 2030, steered by need from the two international and local business.
Singapore-based asset executive Keppel has released that its exclusive budget, Keppel Data Centre Fund III (KDCF III), has gotten a land plot in Ansan, inside the Seoul Metropolitan Area (SMA) in South Korea. The site is going to be used to create a 60MW greenfield information centre, noting the business’s very first foray into South Korea’s data center market.
The future center on the site will be an AI-ready data center, said Keppel in a June 9 launch. Built with Tier III-equivalent requirements, the information centre will be primed to serve hyperscalers, cloud service providers and corporates.
The Ansan center are going to sign up with Keppel’s existing profile of 39 data centers, which had a total gross power capacity of over 800MW as by the end of 2025. The project additionally marks the 2nd financial investment by KDCF III, whose fund under supervision has increased to approximately $2.7 billion since the end of 2025.
The SMA information centre landscape supplies an engaging entry factor for Keppel, observes Lee Hui Fang, primary investment officer for data centres at Keppel. “By getting scarce power in a shovel-ready site, we are building on our deep abilities in data centre fund management and growth to catch the full upside of Korea’s digital change,” she includes.
Additionally, brand-new data hub supply in the SMA is limited as regulating requirements and power restrictions have stopped new advancements. March data from JLL indicates that the SMA information centre industry has a vacancy price of simply 1.4%, whilst the entire supply pipe throughout 2025 to 2027 has already been completely pre-leased.
KDCF III will obtain a 73% reliable risk in a special function mechanism that operates the land. The remaining 27% is contained by a consortium of South Korean business, consisting of developer Shinyoung, financial solutions firm NH Securities and construction company Hyundai E&C.
Construction permits and power authorizations have actually been obtained for the site, with the information facility targeted to be working by 2030.
