Apr 24, 2026 | Posted by Abdul-Rahman Oladimeji
South Korean AI cloud company Naver has secured a 400 billion won ($270 million) loan from the country’s Public Growth Fund to support the development of its AI data center in Sejong. Approved by the Financial Services Commission (FSC), the financing will fund the expansion of Naver’s Sejong facility, known as Gak Sejong, according to Chosun Biz. Separately, AI cloud firm Verda has raised $117 million in a recent funding round.
Plans to expand the campus emerged in November 2025, with Naver announcing it would develop the second and third phases simultaneously. Construction on the first phase began in November 2023. The site spans 290,000 sqm (3.1 million sq ft) and is planned to reach 270MW of capacity, with the ability to host up to 600,000 servers supporting Naver’s cloud services. Gak Sejong comprises five floors—three below ground and two above—and is engineered to withstand earthquakes of up to magnitude 7.0.
The FSC said: "Korean corporations have had a high level of dependence on global big tech corporations in developing AI models due to a lack of AI infrastructure facilities," and added: "To help the domestic AI industry reduce its dependence on global big tech and secure its own AI sovereignty, we decided to provide funding for domestic corporations' large-scale AI data center construction projects." At the start of this year, Naver Cloud revealed it had completed a cluster of 4,000 Nvidia B200 GPUs, but did not state which data center the cluster was housed in.
Naver Cloud currently operates six cloud regions in South Korea, along with one each in Japan, Germany, Singapore, and the US (West Coast). Additional regions are planned in the US (East Coast), Vietnam, Taiwan, and Thailand, while the company has exited Hong Kong. It also lists plans for a 10MW site in Charlotte, North Carolina, 40MW of capacity across Sweden, and a 500MW data center campus in Morocco. In October 2025, Naver announced plans to deploy around 60,000 Nvidia GPUs in partnership with LG AI Research, SK Telecom, NC AI, and Upstage.