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Seoul Data Center Market Report

Jinwoo Jung • 21/02/2024

In accordance with the government’s policy to decentralise data centres, the Greater Seoul Area claimed a 77% share of Korea’s national data centre market in the 2H 2023 period, down from 85% recorded in our 1H update as the share of areas outside of Greater Seoul, such as Gangwon, Pohang and Sejong, has grown. Despite the efforts, data centre power supply demand is set to be concentrated in the GSA, and profiteering activities via the pre-emption of electricity have occurred with the increasing value of sites with secure electricity supply capacity. In the second half of 2023, seven data centre projects obtained new building permits, three completed the commencement notice, and three completed construction.

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