Jun 09, 2026 | Posted by Abdul-Rahman Oladimeji
Singapore-based real estate investor Keppel will develop a 60MW greenfield data center in Ansan, near Seoul, marking its entry into South Korea’s data center market. The project will be developed through Keppel Data Centre Fund III (KDCF III), which has acquired a majority stake in the vehicle that owns the site. Construction permits and power approvals are already in place, with the Tier III AI-ready facility expected to be operational by 2030.
Manjot Singh Mann, CEO of Connectivity Division, Keppel, said: “South Korea represents a compelling growth market for digital infrastructure, underpinned by strong demand from cloud service providers and hyperscalers, alongside limited new supply in the Seoul Metropolitan Area. Building on Keppel’s established track record in developing and operating data centers for hyperscalers across Asia Pacific and Europe, this project will allow us to leverage our deep technical expertise and operational capabilities to deliver scalable, high-quality, and AI-ready infrastructure solutions that meet the evolving needs of our customers.”
Keppel currently owns and operates 39 data centers across Europe and Asia through its Keppel DC REIT and Keppel Data Centres businesses, with a combined gross capacity of around 800MW. The Ansan market is attracting growing investment, with Digital Edge recently acquiring land for its own 60MW data center project, while Kakao opened a data center in the city in 2024.
