The Hanwha Group is a South Korean conglomerate with holdings in explosives, energy, aerospace, finance, retail, construction, and materials.
South Korea’s Hanwha Group has begun construction of a data centre in Yeondeungpo, outside of Seoul in South Korea.
Through a special purpose corporation, named Edgecore PFV, the company is set to develop an eight-story data centre facility, according to DealSite.
The project – dubbed Y-eDC Data Center Development Project – will span 1,385 sqm (14,900 sq ft) and will also feature three underground stories.
Neither the IT capacity nor the timelines of the facility have been shared.
The site originally housed a four-story commercial building. Demolition was completed in 2021, with the site remaining unoccupied until Edgecore PFV acquired it in September of this year.
Hanwha Construction is the contractor for the project. The firm said it has completed 11 data centre builds with two more under construction.
Edgecore PFV secured a bridge financing loan earlier this year, valued at 41 billion South Korean Won (US$29.5m). The financing was loaned to Edgecore PFV from liquidation firm Gaonhaejeocha and will be used to fund the project.
Founded in 1952, the Hanwha Group is a South Korean conglomerate with holdings in explosives, energy, aerospace, finance, retail, construction, and materials.
Earlier this year, the company announced plans to construct a 200MW data centre in Texas, US, for the use of a ‘US tech company.’ Hanwha also operates a 2MW solar plant in the state.
The majority of data centres in South Korea are concentrated in Seoul, with Digital Realty, Empyrion, Equinix, CapitaLand, STT, and Telehouse all having a presence in the city.
This month, Microsoft launched a data centre in Busan, South Korea. The tech giant currently has two cloud regions in South Korea – the Central region in Seoul and the South region in Busan – in 2017. In 2021, the company added additional Availability Zones in Seoul.
Edgecore PFV is not to be confused with US data centre firm EdgeCore.
