Keppel enters South Korea data centre market with planned 60MW facility
The South Korean data centre market is expanding quickly, claimed Keppel, backed by cloud migration, AI adoption and the nation’s passion to become a global AI powerhouse. In the SMA, information centre power need is anticipated to hit 2.3 GW by 2030, driven by demand from the two worldwide and domestic business.
The SMA information centre landscape supplies a compelling entry factor for Keppel, observes Lee Hui Fang, chief financial investment policeman for information facilities at Keppel. “By acquiring scarce power in a shovel-ready location, we are improving our deep capabilities in information centre fund regulation and development to catch the complete upside of Korea’s electronic transformation,” she adds.
The future facility on the site will be an AI-ready data centre, claimed Keppel in a June 9 launch. Constructed with Tier III-equivalent requirements, the data centre will be primed to offer hyperscalers, cloud service providers and corporates.
KDCF III will obtain a 73% reliable risk in a significant objective mechanism that operates the land. The lasting 27% is carried by a range of South Korean companies, including developer Shinyoung, financial solutions firm NH Securities and construction business Hyundai E&C.
The Ansan facility are going to join Keppel’s standing profile of 39 information centres, which had a total gross power capacity of over 800MW as by the end of 2025. The plan even marks the 2nd investment by KDCF III, whose fund under supervision has actually grown to approximately $2.7 billion as of the end of 2025.
At the same time, brand-new information hub source in the SMA is limited as regulatory requirements and power restraints have actually curtailed brand-new growths. March information from JLL indicates that the SMA data centre industry has a vacancy rate of simply 1.4%, whilst the whole supply pipe throughout 2025 to 2027 has actually currently been completely pre-leased.
Construction permits and power authorizations have actually been obtained for the site, with the data center targeted to be functional by 2030.
Singapore-based asset manager Keppel has reported that its exclusive fund, Keppel Data Centre Fund III (KDCF III), has obtained a land 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 company’s initial venture right into South Korea’s data centre market.
