Keppel enters South Korea data centre market with planned 60MW facility
Construction authorizations and power approvals have actually been secured for the site, with the information center targeted to be working by 2030.
Simultaneously, brand-new data hub supply in the SMA is restricted as regulatory requirements and power constraints have actually curtailed new growths. March data from JLL indicates that the SMA information center market has a vacancy price of just 1.4%, whilst the whole supply pipe throughout 2025 to 2027 has actually currently been totally pre-leased.
Singapore-based asset executive Keppel has announced that its private budget, Keppel Data Centre Fund III (KDCF III), has already obtained a land plot in Ansan, within the Seoul Metropolitan Area (SMA) in South Korea. The site is going to be utilized to create a 60MW greenfield data facility, noting the firm’s initial venture into South Korea’s information centre market.
The Ansan center are going to partner with Keppel’s standing profile of 39 data facilities, which had a total gross power capacity of over 800MW as by the end of 2025. The project additionally notes the 2nd financial investment by KDCF III, whose fund under management has expanded to somewhere around $2.7 billion since the end of 2025.
KDCF III will obtain a 73% reliable stake in an exclusive purpose mechanism that owns the land. The remaining 27% is contained by a range of South Korean firms, including developer Shinyoung, financial services firm NH Securities and construction enterprise Hyundai E&C.
The SMA data center landscape offers an engaging entry point for Keppel, observes Lee Hui Fang, primary financial investment police officer for information facilities at Keppel. “By acquiring scarce power in a shovel-ready location, we are building on our deep capacities in data centre fund regulation and advancement to record the full upside of Korea’s electronic improvement,” she adds.
The South Korean information centre industry is growing quickly, claimed Keppel, supported by cloud migration, AI adoption and the nation’s passion to come to be an international AI powerhouse. In the SMA, data center strength demand is expected to strike 2.3 GW by 2030, steered by need from both overseas and domestic firms.
The future center on the site will be an AI-ready data centre, said Keppel in a June 9 release. Built with Tier III-equivalent requirements, the information centre are going to be topped to offer hyperscalers, cloud service providers and corporates.
