Keppel enters South Korea data centre market with planned 60MW facility
Singapore-based asset executive Keppel has released that its exclusive fund, Keppel Data Centre Fund III (KDCF III), has recently acquired a property plot in Ansan, within the Seoul Metropolitan Area (SMA) in South Korea. The site is going to be used to develop a 60MW greenfield data center, noting the firm’s very first foray right into South Korea’s data centre market.
Construction permits and power authorizations have been obtained for the site, with the information facility targeted to be working by 2030.
Additionally, brand-new data centre supply in the SMA is limited as regulating requirements and power restrictions have actually curtailed brand-new developments. March data from JLL indicates that the SMA data center market has a vacancy price of simply 1.4%, whilst the entire supply pipeline throughout 2025 to 2027 has currently been fully pre-leased.
The future center on the site will be an AI-ready data centre, stated Keppel in a June 9 release. Constructed with Tier III-equivalent specifications, the data centre will be primed to offer hyperscalers, cloud service providers and corporates.
The South Korean data centre industry is developing rapidly, claimed Keppel, sustained by cloud migration, AI adoption and the nation’s aspiration to come to be a worldwide AI powerhouse. In the SMA, information center strength need is anticipated to hit 2.3 GW by 2030, generated by need from both international and domestic business.
The Ansan center are going to sign up with Keppel’s existing profile of 39 data facilities, which had a total gross power capacity of over 800MW as at the end of 2025. The plan also marks the 2nd financial investment by KDCF III, whose fund under supervision has increased to about $2.7 billion as of the end of 2025.
KDCF III will obtain a 73% reliable risk in a significant objective vehicle that possesses the land. The remaining 27% is contained by a range of South Korean companies, consisting of developer Shinyoung, financial solutions firm NH Securities and construction business Hyundai E&C.
The SMA data centre landscape offers a compelling entry point for Keppel, observes Lee Hui Fang, primary investment police officer for data centres at Keppel. “By securing scarce power in a shovel-ready location, we are improving our deep capabilities in information centre fund regulation and development to record the complete upside of Korea’s electronic improvement,” she includes.
