Keppel enters South Korea data centre market with planned 60MW facility
The South Korean information center industry is developing quickly, stated Keppel, supported by cloud migration, AI adoption and the country’s aspiration to come to be a global AI giant. In the SMA, data centre power need is expected to hit 2.3 GW by 2030, steered by demand from both worldwide and domestic business.
Singapore-based asset supervisor Keppel has announced that its private budget, Keppel Data Centre Fund III (KDCF III), has recently obtained a land plot in Ansan, inside the Seoul Metropolitan Area (SMA) in South Korea. The site is going to be utilized to establish a 60MW greenfield data centre, noting the firm’s initial venture into South Korea’s information center market.
KDCF III will certainly acquire a 73% efficient risk in a significant function vehicle that operates the land. The standing 27% is carried by a range of South Korean companies, including developer Shinyoung, financial solutions firm NH Securities and construction enterprise Hyundai E&C.
Construction authorizations and power approvals have actually been obtained for the site, with the data centre intended to be working by 2030.
The future facility on the site will be an AI-ready information centre, stated Keppel in a June 9 release. Built with Tier III-equivalent specifications, the data centre will be primed to serve hyperscalers, cloud service providers and corporates.
The SMA information center landscape supplies a compelling entry factor for Keppel, observes Lee Hui Fang, chief investment policeman for information hubs at Keppel. “By securing scarce power in a shovel-ready site, we are building on our deep capacities in data centre fund management and advancement to capture the complete upside of Korea’s electronic transformation,” she adds.
Simultaneously, new information centre supply in the SMA is limited as regulating requirements and power restraints have actually reduced new growths. March information from JLL suggests that the SMA information centre market has a vacancy rate of simply 1.4%, whilst the whole supply pipeline across 2025 to 2027 has actually currently been completely pre-leased.
The Ansan facility are going to join Keppel’s standing portfolio of 39 information centers, which had a complete gross power capacity of over 800MW as at the end of 2025. The project additionally marks the 2nd investment by KDCF III, whose fund under management has actually increased to about $2.7 billion as of the end of 2025.
