Keppel enters South Korea data centre market with planned 60MW facility
Singapore-based asset manager Keppel has reported that its exclusive budget, Keppel Data Centre Fund III (KDCF III), has gotten a land plot in Ansan, inside the Seoul Metropolitan Area (SMA) in South Korea. The site will be utilized to create a 60MW greenfield information centre, noting the business’s first foray into South Korea’s data centre market.
KDCF III will certainly obtain a 73% efficient stake in an exclusive objective vehicle that possesses the land. The lasting 27% is contained by a consortium of South Korean firms, consisting of developer Shinyoung, financial solutions firm NH Securities and construction firm Hyundai E&C.
The SMA information center landscape provides a compelling entry point for Keppel, observes Lee Hui Fang, chief investment policeman for data facilities at Keppel. “By securing limited power in a shovel-ready location, we are building on our deep capabilities in data centre fund management and advancement to catch the complete upside of Korea’s electronic change,” she adds.
The South Korean data centre industry is developing quickly, said Keppel, backed by cloud migration, AI adoption and the country’s passion to come to be an international AI powerhouse. In the SMA, information centre power demand is expected to strike 2.3 GW by 2030, steered by need from the two worldwide and local business.
Upperhouse UOL Group Limited and Singapore Land Group (Singland)
At the same time, brand-new information hub source in the SMA is limited as regulatory requirements and power restrictions have curtailed new advancements. March information from JLL shows that the SMA information center market has a vacancy rate of simply 1.4%, whilst the whole supply pipe across 2025 to 2027 has already been completely pre-leased.
The future center on the site will be an AI-ready information center, stated Keppel in a June 9 release. Built with Tier III-equivalent specifications, the information centre will be primed to offer hyperscalers, cloud service providers and corporates.
The Ansan center will sign up with Keppel’s occurring profile of 39 information centres, which had a complete gross power capacity of over 800MW as by the end of 2025. The project even notes the second investment by KDCF III, whose fund under supervision has expanded to somewhere around $2.7 billion since the end of 2025.
Construction permits and power approvals have been protected for the site, with the data centre targeted to be working by 2030.
