Keppel enters South Korea data centre market with planned 60MW facility
Construction licenses and power authorizations have been secured for the site, with the data facility intended to be functional by 2030.
The Ansan center will join Keppel’s existing portfolio of 39 data centres, which had a total gross power capacity of over 800MW as at the end of 2025. The project additionally notes the second financial investment by KDCF III, whose fund under management has actually increased to approximately $2.7 billion as of the end of 2025.
The South Korean data centre market is developing rapidly, claimed Keppel, backed by cloud migration, AI adoption and the country’s aspiration to come to be a global AI giant. In the SMA, data centre power demand is anticipated to strike 2.3 GW by 2030, driven by need from the two international and local business.
The future center on the site will be an AI-ready information centre, said Keppel in a June 9 launch. Built with Tier III-equivalent specifications, the information centre are going to be topped to offer hyperscalers, cloud service providers and corporates.
KDCF III will certainly obtain a 73% efficient stake in an exclusive purpose mechanism that owns the land. The standing 27% is contained by a range of South Korean firms, including developer Shinyoung, financial services firm NH Securities and construction enterprise Hyundai E&C.
Sora Condo Ching Eng Seng, Singhaiyi Group, KSH Holdings
The SMA information centre landscape provides an engaging entry factor for Keppel, observes Lee Hui Fang, chief investment officer for information facilities at Keppel. “By acquiring scarce power in a shovel-ready location, we are improving our deep capacities in data centre fund management and advancement to capture the complete upside of Korea’s electronic improvement,” she includes.
At the same time, new data hub supply in the SMA is limited as regulating requirements and power restraints have curtailed brand-new growths. March data from JLL indicates that the SMA data centre market has a vacancy rate of just 1.4%, whilst the whole supply pipeline throughout 2025 to 2027 has actually currently been totally pre-leased.
Singapore-based asset executive Keppel has released that its private budget, Keppel Data Centre Fund III (KDCF III), has recently obtained a property plot in Ansan, within the Seoul Metropolitan Area (SMA) in South Korea. The site will be used to establish a 60MW greenfield information center, noting the company’s very first venture into South Korea’s information facility market.
