Keppel enters South Korea data centre market with planned 60MW facility
Singapore-based asset supervisor Keppel has announced that its exclusive fund, 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 will be used to develop a 60MW greenfield data center, marking the firm’s initial foray right into South Korea’s information center market.
The future center on the site will be an AI-ready information centre, stated Keppel in a June 9 launch. Built with Tier III-equivalent specs, the data centre are going to be primed to offer hyperscalers, cloud service providers and corporates.
KDCF III will certainly acquire a 73% efficient risk in a special function vehicle that owns the land. The lasting 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 Ansan center will partner with Keppel’s standing profile of 39 information centers, which had an overall gross power capacity of over 800MW as by the end of 2025. The plan even notes the 2nd investment by KDCF III, whose fund under management has grown to roughly $2.7 billion since the end of 2025.
Meyer Blue UOL Group Limited & Singapore Land
Construction permits and power authorizations have been secured for the site, with the data center intended to be working by 2030.
The SMA information center landscape uses a compelling entry factor for Keppel, observes Lee Hui Fang, chief financial investment officer for data hubs at Keppel. “By getting limited power in a shovel-ready site, we are improving our deep capabilities in data centre fund monitoring and growth to capture the complete upside of Korea’s electronic transformation,” she includes.
The South Korean data centre market is developing swiftly, claimed Keppel, supported by cloud shift, AI adoption and the country’s aspiration to end up being a global AI powerhouse. In the SMA, data centre strength demand is anticipated to hit 2.3 GW by 2030, generated by demand from the two overseas and local companies.
At the same time, new data hub source in the SMA is limited as regulating requirements and power restrictions have reduced new advancements. March information from JLL suggests that the SMA data center market has a vacancy rate of simply 1.4%, whilst the whole supply pipeline throughout 2025 to 2027 has currently been fully pre-leased.
