Keppel enters South Korea data centre market with planned 60MW facility
The Ansan facility will join Keppel’s occurring portfolio of 39 information centres, which had a complete gross power capacity of over 800MW as by the end of 2025. The project additionally notes the 2nd financial investment by KDCF III, whose fund under management has increased to about $2.7 billion as of the end of 2025.
The future center on the site will be an AI-ready data centre, said Keppel in a June 9 launch. Constructed with Tier III-equivalent specs, the information centre are going to be keyed to offer hyperscalers, cloud service providers and corporates.
Singapore-based asset manager Keppel has announced 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 facility, marking the firm’s first foray right into South Korea’s data center market.
Construction licenses and power authorizations have actually been obtained for the site, with the data center intended to be operational by 2030.
KDCF III will get a 73% efficient risk in a special purpose mechanism that operates the land. The remaining 27% is held by a range of South Korean companies, consisting of developer Shinyoung, financial services firm NH Securities and construction company Hyundai E&C.
The South Korean data center industry is growing rapidly, stated Keppel, supported by cloud migration, AI adoption and the nation’s aspiration to end up being a worldwide AI powerhouse. In the SMA, information center power demand is anticipated to hit 2.3 GW by 2030, driven by demand from the two worldwide and local firms.
At the same time, brand-new data centre supply in the SMA is limited as regulatory requirements and power constraints have cut brand-new advancements. March data from JLL shows that the SMA information centre industry has a vacancy price of just 1.4%, whilst the whole supply pipe throughout 2025 to 2027 has actually already been fully pre-leased.
The SMA information center landscape supplies an engaging entry point for Keppel, observes Lee Hui Fang, chief financial investment police officer for information facilities at Keppel. “By getting scarce power in a shovel-ready site, we are building on our deep capacities in information centre fund regulation and growth to capture the full upside of Korea’s digital transformation,” she adds.
