Keppel enters South Korea data centre market with planned 60MW facility
The Ansan facility are going to sign up with Keppel’s occurring portfolio of 39 data centres, which had a total gross power capacity of over 800MW as by the end of 2025. The plan even notes the 2nd financial investment by KDCF III, whose fund under supervision has actually expanded to approximately $2.7 billion since the end of 2025.
The South Korean information centre industry is developing swiftly, claimed Keppel, supported by cloud migration, AI adoption and the country’s passion to end up being a worldwide AI giant. In the SMA, data center strength demand is anticipated to strike 2.3 GW by 2030, driven by demand from the two worldwide and domestic firms.
Singapore-based asset executive Keppel has reported that its private 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 used to establish a 60MW greenfield data center, noting the business’s initial venture into South Korea’s information facility market.
The SMA information centre landscape uses an engaging entry point for Keppel, observes Lee Hui Fang, chief financial investment policeman for information centres at Keppel. “By acquiring scarce power in a shovel-ready site, we are building on our deep capabilities in data centre fund monitoring and advancement to catch the full upside of Korea’s electronic transformation,” she includes.
At the same time, new data centre source in the SMA is restricted as regulatory requirements and power restraints have reduced brand-new growths. March data from JLL shows that the SMA data centre market has a vacancy price of just 1.4%, whilst the whole supply pipeline across 2025 to 2027 has actually currently been fully pre-leased.
The future center on the site will be an AI-ready data center, stated Keppel in a June 9 release. Constructed with Tier III-equivalent requirements, the information centre are going to be primed to offer hyperscalers, cloud service providers and corporates.
KDCF III will acquire a 73% reliable stake in a significant function mechanism that operates the land. The standing 27% is carried by a consortium of South Korean firms, including developer Shinyoung, financial services firm NH Securities and construction company Hyundai E&C.
Construction permits and power approvals have actually been obtained for the site, with the data facility targeted to be working by 2030.
