Keppel enters South Korea data centre market with planned 60MW facility
The Ansan center are going to join Keppel’s existing profile of 39 data centres, which had a total gross power capacity of over 800MW as by the end of 2025. The project also marks the second investment by KDCF III, whose fund under management has actually developed to around $2.7 billion as of the end of 2025.
Singapore-based asset supervisor Keppel has reported that its exclusive budget, Keppel Data Centre Fund III (KDCF III), has already gotten a property plot in Ansan, inside the Seoul Metropolitan Area (SMA) in South Korea. The site will be utilized to establish a 60MW greenfield data centre, marking the firm’s initial venture into South Korea’s data center market.
The future facility on the site will be an AI-ready data centre, claimed Keppel in a June 9 release. Constructed with Tier III-equivalent requirements, the data centre are going to be primed to offer hyperscalers, cloud service providers and corporates.
At the same time, new information hub source in the SMA is limited as regulatory requirements and power constraints have actually reduced brand-new advancements. March data from JLL suggests that the SMA data center industry has a vacancy price of just 1.4%, whilst the entire supply pipeline across 2025 to 2027 has actually currently been totally pre-leased.
Construction authorizations and power approvals have been obtained for the site, with the data centre targeted to be working by 2030.
The SMA information center landscape uses a compelling entry factor for Keppel, observes Lee Hui Fang, chief investment police officer for information centres at Keppel. “By securing limited power in a shovel-ready location, we are improving our deep abilities in data centre fund monitoring and advancement to catch the complete upside of Korea’s digital improvement,” she includes.
The South Korean data centre market is developing rapidly, claimed Keppel, backed by cloud shift, AI adoption and the nation’s ambition to become a global AI giant. In the SMA, information centre power need is anticipated to hit 2.3 GW by 2030, driven by demand from the two international and local business.
KDCF III will acquire a 73% effective risk in a significant purpose mechanism that possesses the land. The standing 27% is carried by a consortium of South Korean companies, including developer Shinyoung, financial solutions firm NH Securities and construction business Hyundai E&C.
