Keppel enters South Korea data centre market with planned 60MW facility
Singapore-based asset executive Keppel has reported that its private budget, Keppel Data Centre Fund III (KDCF III), has gotten a property plot in Ansan, inside the Seoul Metropolitan Area (SMA) in South Korea. The site will be utilized to create a 60MW greenfield data facility, marking the business’s initial foray right into South Korea’s information center market.
Construction authorizations and power authorizations have actually been secured for the site, with the information centre targeted to be operational by 2030.
The SMA data center landscape uses an engaging entry point for Keppel, observes Lee Hui Fang, primary financial investment officer for information facilities at Keppel. “By acquiring limited power in a shovel-ready location, we are building on our deep capabilities in information centre fund management and advancement to record the full upside of Korea’s electronic change,” she includes.
The Ansan center are going to partner with Keppel’s standing profile of 39 information facilities, which had a complete gross power capacity of over 800MW as at the end of 2025. The project even marks the second investment by KDCF III, whose fund under management has increased to somewhere around $2.7 billion since completion of 2025.
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Additionally, brand-new information centre source in the SMA is limited as regulatory requirements and power constraints have actually stopped brand-new advancements. March information from JLL shows that the SMA data center industry has a vacancy price of simply 1.4%, whilst the whole supply pipeline throughout 2025 to 2027 has actually currently been totally pre-leased.
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 keyed to offer hyperscalers, cloud service providers and corporates.
The South Korean information centre industry is developing swiftly, claimed Keppel, backed by cloud migration, AI adoption and the nation’s passion to end up being a global AI giant. In the SMA, data centre strength demand is anticipated to strike 2.3 GW by 2030, driven by need from the two international and domestic business.
KDCF III will certainly acquire a 73% reliable stake in a special purpose vehicle that operates the land. The lasting 27% is contained by a range of South Korean firms, including developer Shinyoung, financial services firm NH Securities and construction firm Hyundai E&C.
