Keppel enters South Korea data centre market with planned 60MW facility
Singapore-based asset supervisor Keppel has released that its exclusive fund, Keppel Data Centre Fund III (KDCF III), has already acquired a property plot in Ansan, inside the Seoul Metropolitan Area (SMA) in South Korea. The site is going to be utilized to create a 60MW greenfield data center, marking the business’s initial venture right into South Korea’s information centre market.
Simultaneously, brand-new data centre source in the SMA is limited as regulating requirements and power restrictions have actually stopped brand-new advancements. March data from JLL suggests that the SMA data centre industry has a vacancy rate of just 1.4%, whilst the whole supply pipe across 2025 to 2027 has currently been fully pre-leased.
The future center on the site will be an AI-ready information centre, said Keppel in a June 9 release. Constructed with Tier III-equivalent specs, the data centre will be topped to offer hyperscalers, cloud service providers and corporates.
KDCF III will certainly obtain a 73% effective stake in an exclusive purpose mechanism that owns the land. The lasting 27% is carried by a range of South Korean business, including developer Shinyoung, financial solutions firm NH Securities and construction company Hyundai E&C.
The SMA information centre landscape provides an engaging entry factor for Keppel, observes Lee Hui Fang, primary investment officer for information facilities at Keppel. “By securing limited power in a shovel-ready site, we are building on our deep capacities in data centre fund regulation and growth to record the complete upside of Korea’s digital improvement,” she includes.
Construction authorizations and power authorizations have been obtained for the site, with the information center targeted to be functional by 2030.
The Ansan center will join Keppel’s occurring profile of 39 data centres, which had an overall gross power capacity of over 800MW as at the end of 2025. The project additionally marks the second investment by KDCF III, whose fund under management has actually increased to around $2.7 billion as of the end of 2025.
The South Korean information center market is developing rapidly, stated Keppel, supported by cloud shift, AI adoption and the nation’s aspiration to become an international AI giant. In the SMA, data centre power need is anticipated to strike 2.3 GW by 2030, steered by demand from both international and local business.
