KT Cloud has confirmed that it has won the DBO project to operate the ‘Guro Data Center’ being constructed by Capstone Asset Management. DBO refers to a business that provides services related to the Design, construction(Build), and Operation of client data centers to generate revenue.
According to industry sources on the 22nd, KT Cloud has been selected as the operator for the 30-megawatt (MW) Guro Data Center, which aims for completion in April 2028. KT Cloud, along with SK Eco Plant, has received permits as the construction company and began work in February. SK Eco Plant is responsible for the construction, while KT Cloud manages the mechanical, electrical, and plumbing (MEP) work.
KT Cloud entered the data center market in 1999 and currently operates 14 data centers, the largest in the country. The developer of the Guro Data Center decided in 2022 to outsource the DBO field to KT Cloud, recognizing its operational capabilities.
The construction project for the Guro Data Center, initiated by Lotte Engineering & Construction in 2021, changed its principal contractor to Capstone Asset Management last year due to financial difficulties resulting from construction delays. In this process, the construction project, valued at approximately 130 billion won, was transferred from Lotte Engineering & Construction to SK Eco Plant, but KT Cloud maintained its status as the operator. A representative from Capstone Asset Management noted, “We have become the largest shareholder in the Guro Data Center project by investing a total of 105 billion won using funds from the normalization fund created with the Korea Asset Management Corporation (KAMCO),” and added, “We did not change the contract already signed with KT Cloud during the acquisition process of the business rights.”
By winning this DBO project, KT Cloud has also signed a contract to rent part of the Guro Data Center facilities from the developer. The plan is to secure about 15% of the total for a master lease (a business that involves re-leasing long-term leased buildings and sharing the resulting revenue with the property owner). It has been confirmed that KT Cloud has also secured preferential leasing rights for the remaining facilities. The company plans to conduct reliability evaluations of the Guro Data Center in the future.
The Guro Data Center will be located in the area of 166-2 Gae Bong Dong, Seoul. It will be built on a site area of 3,354 square meters, with 4 basement floors and 8 above-ground floors, amounting to a total floor area of 19,225 square meters. The power receive capacity based on IT capacity is 19.8 MW.