Keppel enters South Korea data centre market with planned 60MW facility
The Ansan facility will join Keppel’s existing portfolio of 39 information centers, which had an overall gross power capacity of over 800MW as at the end of 2025. The project also marks the second investment by KDCF III, whose fund under supervision has expanded to around $2.7 billion as of the end of 2025.
Construction permits and power approvals have been secured for the site, with the data facility targeted to be functional by 2030.
Additionally, brand-new data centre supply in the SMA is limited as regulatory requirements and power restrictions have actually reduced brand-new developments. March information from JLL suggests that the SMA information center market has a vacancy rate of just 1.4%, whilst the whole supply pipe across 2025 to 2027 has actually already been totally pre-leased.
Singapore-based asset supervisor Keppel has announced that its exclusive fund, 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 utilized to create a 60MW greenfield information centre, marking the business’s initial venture into South Korea’s information centre market.
KDCF III will certainly get a 73% efficient risk in a special objective vehicle that possesses the land. The standing 27% is carried by a consortium of South Korean firms, consisting of developer Shinyoung, financial solutions firm NH Securities and construction firm Hyundai E&C.
The SMA information center landscape offers a compelling entry point for Keppel, observes Lee Hui Fang, primary financial investment officer for information hubs at Keppel. “By securing scarce power in a shovel-ready site, we are improving our deep capabilities in data centre fund management and development to capture the full upside of Korea’s digital transformation,” she includes.
The South Korean data centre market is developing swiftly, claimed Keppel, sustained by cloud shift, AI adoption and the country’s passion to become an international AI powerhouse. In the SMA, data centre strength demand is expected to hit 2.3 GW by 2030, generated by need from both worldwide and domestic companies.
The future center on the site will be an AI-ready data center, stated Keppel in a June 9 release. Constructed with Tier III-equivalent specifications, the information centre are going to be topped to serve hyperscalers, cloud service providers and corporates.
