Keppel enters South Korea data centre market with planned 60MW facility
The future facility on the site will be an AI-ready information centre, stated Keppel in a June 9 launch. Built with Tier III-equivalent requirements, the data centre are going to be primed to serve hyperscalers, cloud service providers and corporates.
Construction licenses and power approvals have actually been secured for the site, with the data centre intended to be operational by 2030.
Additionally, new information hub supply in the SMA is restricted as regulatory requirements and power restrictions have reduced brand-new developments. March information from JLL suggests that the SMA data centre industry has a vacancy rate of just 1.4%, whilst the whole supply pipeline throughout 2025 to 2027 has currently been fully pre-leased.
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Singapore-based asset manager Keppel has released that its exclusive budget, Keppel Data Centre Fund III (KDCF III), has acquired a land plot in Ansan, inside the Seoul Metropolitan Area (SMA) in South Korea. The site will be used to develop a 60MW greenfield data center, noting the business’s very first foray right into South Korea’s information center market.
The SMA information centre landscape supplies an engaging entry point for Keppel, observes Lee Hui Fang, primary financial investment officer for information facilities at Keppel. “By getting limited power in a shovel-ready site, we are improving our deep abilities in data centre fund management and advancement to capture the complete upside of Korea’s digital improvement,” she includes.
The South Korean information centre market is growing swiftly, stated Keppel, supported by cloud shift, AI adoption and the country’s aspiration to become a global AI giant. In the SMA, information center power demand is expected to hit 2.3 GW by 2030, generated by demand from both overseas and local companies.
KDCF III will certainly acquire a 73% reliable risk in a special objective vehicle that owns the land. The standing 27% is contained by a range of South Korean companies, including developer Shinyoung, financial solutions firm NH Securities and construction enterprise Hyundai E&C.
The Ansan facility are going to join Keppel’s existing profile of 39 information centres, which had an overall gross power capacity of over 800MW as by the end of 2025. The plan also marks the second financial investment by KDCF III, whose fund under supervision has actually developed to roughly $2.7 billion since completion of 2025.
