Koramco Asset Management announced on the 12th that it would expand its investment in data centers ahead of the completion of the 'Case Square Data Center in Gasan' scheduled for the end of June. The company explained that this is the first time a real estate asset management firm has specifically outlined its data center investment plans.
Koramco signed a comprehensive memorandum of understanding (MOU) with LG Uplus on the development and operation of data centers on the 11th. Earlier this month, they also began the establishment of a special purpose company (PFV) to develop a massive data center in Busan with a power capacity of about 40 megawatts (MW) at Tier 3 level.
Koramco is accelerating its investments with the data center as a core growth axis. The 'Case Square Data Center in Gasan,' which is nearing completion, is a massive data center being built on a site of about 6,200 square meters, with a total floor area of 41,214 square meters (about 12,496 pyeong) at Tier 3 level. Additionally, it is simultaneously pursuing the development of large data centers in major locations nationwide, such as 'Ansan Seonggok,' 'Uijeongbu Yonghyeon,' and 'Busan IDC.'
Koramco plans to enhance its competitiveness to the top level in Korea by accumulating experience in data center development, from site discovery to investment, design, construction, and operation, based on its three ongoing development projects. Moreover, it aims to raise 5 trillion won in funding by 2028 and plans to invest a total of 10 trillion won in data centers by 2032 using this funding as leverage.
If this plan materializes, Koramco will independently operate approximately 1.4 gigawatts (GW) in power capacity and a total of 1 GW in IT load data centers. Furthermore, it is also considering establishing Korea's first data center REIT based on the completed data center and listing it on the KOSPI market.
An organization and human resource foundation for executing this roadmap is also being quickly established. In March, Koramco established a specialized organization for data centers, the 'Data Center Headquarters.' This headquarters is an independent investment department that has consolidated data center-related professionals who were dispersed across the institutional sector. Recently, the Data Center Headquarters has announced plans to launch a blind fund dedicated to data centers worth 1 trillion won.
Koramco plans to secure leadership in domestic data center investments through the 'Case Square Data Center in Gasan' and several ongoing data center developments, and then expand into real estate investments in overseas data centers.
Park Hyung-seok, CEO of Koramco Asset Management, said, "Koramco has accumulated practical expertise over the entire investment cycle of data centers, from site discovery to design, permitting, construction, and operational management through the Gasan IDC development. Based on this, we will prove to the market that data centers can establish themselves as stable investment assets beyond simply being communication infrastructure in Korea."