Keppel enters South Korea data centre market with planned 60MW facility
The SMA data centre landscape provides a compelling entry factor for Keppel, observes Lee Hui Fang, primary investment police officer for data hubs at Keppel. “By acquiring scarce power in a shovel-ready site, we are improving our deep capabilities in data centre fund management and advancement to catch the complete upside of Korea’s electronic improvement,” she adds.
KDCF III will certainly get a 73% efficient stake in an exclusive objective mechanism that possesses the land. The standing 27% is carried by a consortium of South Korean firms, including developer Shinyoung, financial services firm NH Securities and construction firm Hyundai E&C.
Springleaf Residence Singapore
Construction licenses and power authorizations have been obtained for the site, with the data facility targeted to be working by 2030.
The future facility on the site will be an AI-ready information centre, claimed Keppel in a June 9 release. Built with Tier III-equivalent specs, the information centre will be keyed to serve hyperscalers, cloud service providers and corporates.
Additionally, brand-new data centre source in the SMA is restricted as regulating requirements and power constraints have actually stopped brand-new developments. March information from JLL shows that the SMA data centre market has a vacancy price of simply 1.4%, whilst the whole supply pipe throughout 2025 to 2027 has actually currently been totally pre-leased.
Singapore-based asset manager Keppel has reported that its exclusive budget, Keppel Data Centre Fund III (KDCF III), has already gotten a property plot in Ansan, inside the Seoul Metropolitan Area (SMA) in South Korea. The site will be utilized to establish a 60MW greenfield data facility, marking the company’s initial venture into South Korea’s data centre market.
The Ansan facility will join Keppel’s standing profile of 39 data centers, which had a complete 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 management has actually increased to approximately $2.7 billion since the end of 2025.
The South Korean data center market is developing swiftly, claimed Keppel, supported by cloud shift, AI adoption and the country’s aspiration to end up being an international AI powerhouse. In the SMA, data centre strength need is anticipated to hit 2.3 GW by 2030, driven by demand from the two international and local business.
