SEOUL, Sept. 8 (Korea Bizwire) — South Korea will push to build a 120 megawatt data center in the southeastern industrial city of Pohang by 2027, the industry ministry said Friday.
The ministry signed a memorandum of understanding with Pohang city and North Gyeongsang Province and the state-run Korea Electric Power Corp., as well as SK ecoplant Co., DCT Telecom Group Inc. and KB Asset Management Co. on the establishment of a data center at an industrial complex in Pohang, according to the Ministry of Trade, Industry and Energy.
The participating companies plan to invest 1.5 trillion won (US$1.12 billion) combined in the construction over the next four years, and the government will extend subsidies and other support.
The envisioned facility will be the first data center in the city and is expected to enhance business circumstances for global companies located in the southern part of South Korea, it added.
The government has sought to build more data centers outside Seoul and the capital areas, as some 60 percent of the country’s data centers are currently located in Seoul and its surrounding areas.