Keppel enters South Korea data centre market with planned 60MW facility
Singapore-based asset supervisor Keppel has released 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 used to establish a 60MW greenfield data center, noting the business’s very first foray into South Korea’s information facility market.
Construction licenses and power authorizations have been protected for the site, with the information center targeted to be functional by 2030.
The Ansan facility are going to join Keppel’s occurring profile of 39 data facilities, which had a complete gross power capacity of over 800MW as at the end of 2025. The project even notes the second investment by KDCF III, whose fund under supervision has grown to about $2.7 billion as of the end of 2025.
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Additionally, brand-new information centre supply in the SMA is restricted as regulating requirements and power restrictions have stopped brand-new advancements. March information from JLL indicates that the SMA data center industry has a vacancy price of simply 1.4%, whilst the entire supply pipeline across 2025 to 2027 has actually already been fully pre-leased.
The South Korean information centre market is expanding quickly, claimed Keppel, backed by cloud shift, AI adoption and the country’s aspiration to become a worldwide AI giant. In the SMA, information centre power demand is anticipated to strike 2.3 GW by 2030, steered by demand from the two overseas and domestic companies.
KDCF III will certainly obtain a 73% reliable stake in a special objective vehicle that owns the land. The standing 27% is contained by a consortium of South Korean firms, including developer Shinyoung, financial solutions firm NH Securities and construction company Hyundai E&C.
The SMA information center landscape uses a compelling entry point for Keppel, observes Lee Hui Fang, chief financial investment officer for data centres at Keppel. “By securing scarce power in a shovel-ready location, we are building on our deep capacities in information centre fund regulation and growth to record the full upside of Korea’s electronic change,” she adds.
The future center on the site will be an AI-ready data centre, claimed Keppel in a June 9 launch. Constructed with Tier III-equivalent specs, the information centre will be topped to offer hyperscalers, cloud service providers and corporates.
