Keppel enters South Korea data centre market with planned 60MW facility
The South Korean data centre industry is developing swiftly, stated Keppel, sustained by cloud migration, AI adoption and the nation’s aspiration to come to be an international AI powerhouse. In the SMA, data centre power need is expected to strike 2.3 GW by 2030, steered by need from the two worldwide and local companies.
The Ansan facility will join Keppel’s existing profile of 39 information facilities, which had a total gross power capacity of over 800MW as at the end of 2025. The project even marks the 2nd investment by KDCF III, whose fund under supervision has grown to about $2.7 billion as of the end of 2025.
KDCF III will certainly acquire a 73% efficient risk in a significant objective vehicle that possesses the land. The remaining 27% is carried by a consortium of South Korean firms, consisting of developer Shinyoung, financial services firm NH Securities and construction business Hyundai E&C.
The SMA information centre landscape provides a compelling entry factor for Keppel, observes Lee Hui Fang, chief investment policeman for data centres at Keppel. “By acquiring limited power in a shovel-ready location, we are building on our deep capacities in information centre fund management and development to capture the full upside of Korea’s electronic transformation,” she includes.
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Singapore-based asset supervisor Keppel has released that its private budget, Keppel Data Centre Fund III (KDCF III), has already acquired a property plot in Ansan, within the Seoul Metropolitan Area (SMA) in South Korea. The site is going to be used to establish a 60MW greenfield data facility, marking the business’s first foray right into South Korea’s information centre market.
Additionally, new data hub supply in the SMA is restricted as regulatory requirements and power restrictions have actually curtailed brand-new developments. March information from JLL suggests that the SMA information centre market has a vacancy rate of just 1.4%, whilst the entire supply pipe across 2025 to 2027 has currently been totally pre-leased.
The future center on the site will be an AI-ready information centre, said Keppel in a June 9 release. Constructed with Tier III-equivalent requirements, the information centre are going to be primed to serve hyperscalers, cloud service providers and corporates.
Construction permits and power authorizations have actually been protected for the site, with the information facility targeted to be operational by 2030.
