Keppel enters South Korea data centre market with planned 60MW facility
Singapore-based asset supervisor Keppel has released that its private budget, Keppel Data Centre Fund III (KDCF III), has already gotten a land plot in Ansan, within the Seoul Metropolitan Area (SMA) in South Korea. The site is going to be utilized to develop a 60MW greenfield data facility, noting the company’s very first foray right into South Korea’s data centre market.
The Ansan center are going to join Keppel’s occurring profile of 39 information facilities, which had an overall gross power capacity of over 800MW as at the end of 2025. The project even notes the second investment by KDCF III, whose fund under supervision has actually expanded to roughly $2.7 billion since the end of 2025.
Construction licenses and power approvals have been obtained for the site, with the information facility intended to be working by 2030.
The future facility on the site will be an AI-ready data centre, said Keppel in a June 9 launch. Built with Tier III-equivalent specifications, the data centre will be keyed to serve hyperscalers, cloud service providers and corporates.
The SMA data centre landscape provides an engaging entry factor for Keppel, observes Lee Hui Fang, chief investment officer for data centres at Keppel. “By getting limited power in a shovel-ready site, we are building on our deep abilities in data centre fund monitoring and advancement to capture the full upside of Korea’s digital improvement,” she includes.
At the same time, brand-new data centre source in the SMA is limited as regulating requirements and power restraints have actually curtailed brand-new developments. March information from JLL indicates that the SMA data centre market has a vacancy rate of just 1.4%, while the whole supply pipeline throughout 2025 to 2027 has currently been totally pre-leased.
KDCF III will certainly get a 73% effective risk in an exclusive function mechanism that owns the land. The standing 27% is held by a consortium of South Korean companies, consisting of developer Shinyoung, financial solutions firm NH Securities and construction enterprise Hyundai E&C.
The South Korean data center industry is developing swiftly, stated Keppel, sustained by cloud shift, AI adoption and the country’s ambition to come to be a global AI giant. In the SMA, data center strength need is anticipated to strike 2.3 GW by 2030, steered by need from both international and domestic companies.
