Keppel enters South Korea data centre market with planned 60MW facility
The Ansan facility are going to sign up with Keppel’s standing profile of 39 information centers, which had an overall gross power capacity of over 800MW as at the end of 2025. The project additionally notes the 2nd investment by KDCF III, whose fund under supervision has actually grown to roughly $2.7 billion as of the end of 2025.
KDCF III will certainly get a 73% efficient stake in a significant objective vehicle that owns the land. The standing 27% is contained by a consortium of South Korean firms, including developer Shinyoung, financial services firm NH Securities and construction business Hyundai E&C.
Singapore-based asset manager Keppel has reported that its exclusive budget, Keppel Data Centre Fund III (KDCF III), has recently acquired a land plot in Ansan, inside the Seoul Metropolitan Area (SMA) in South Korea. The site is going to be used to establish a 60MW greenfield information centre, noting the business’s very first foray right into South Korea’s information center market.
The South Korean information centre market is growing rapidly, claimed Keppel, supported by cloud migration, AI adoption and the nation’s ambition to come to be a worldwide AI powerhouse. In the SMA, data centre power demand is expected to strike 2.3 GW by 2030, generated by demand from the two worldwide and domestic companies.
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At the same time, new data hub supply in the SMA is limited as regulatory requirements and power restraints have curtailed brand-new advancements. March information from JLL indicates that the SMA information centre market has a vacancy rate of simply 1.4%, while the whole supply pipe throughout 2025 to 2027 has already been completely pre-leased.
The future center on the site will be an AI-ready information center, claimed Keppel in a June 9 release. Built with Tier III-equivalent specifications, the data centre will be topped to offer hyperscalers, cloud service providers and corporates.
The SMA data center landscape supplies an engaging entry point for Keppel, observes Lee Hui Fang, chief investment police officer for information hubs at Keppel. “By getting limited power in a shovel-ready location, we are improving our deep capacities in data centre fund regulation and growth to record the complete upside of Korea’s electronic change,” she includes.
Construction authorizations and power approvals have been obtained for the site, with the data centre targeted to be operational by 2030.
