The Hanam Data Centre, Hanam IDC, situated in the Greater Seoul Area of South Korea, is scheduled to be acquired by Macquarie Asset Management through the Macquarie Korea Infrastructure Fund (MKIF).
The agreed-upon sale price for Macquarie is KRW734bn (about $530m), but the transaction size includes transaction costs and extra funding required to finish the remaining mechanical, electrical, and plumbing works at Hanam IDC, totalling KRW918bn (approximately $663m).
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Hanam IDC is a tier-3 colocation data centre with a total capacity of 40MW, a target IT load of 25.44MW, and a gross floor area of 41,919.45㎡ spread across 12 levels.
LG CNS has hired the entire facility and committed to utilising 99% of the target IT load.
Under on these contractual terms, LG CNS entered into separate data centre use agreements with domestic IT corporations and conglomerates, who subleased specific space within Hanam IDC to install, maintain, and run servers at their own expense.
Moreover, the increasing trend of cloud computing adoption, e-commerce expansion, and consumer data consumption in Korea are driving up demand for data centres.
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By GlobalDataThe Greater Seoul Area, where Hanam IDC is headquartered, is regarded as the ideal location for data centres in Korea due to strong demand from local corporations and effective network infrastructure.
Macquarie Asset Management is a global investor in digital infrastructure, managing investments in AirTrunk, Bersama Digital Infrastructure, US data center providers Aligned and Netrality, ST Telemedia’s VIRTUS, and Australian fibre and network solutions provider Vocus.
MKIF, a 2002-established infrastructure fund in Korea, has a market capitalisation of KRW5.4trn and over 210,000 investors. It primarily invests in transportation projects but has recently expanded into city gas, energy, and digital infrastructure.
Jason Suh, head of Macquarie Korea Asset Management, said: “With the growth of IT technologies such as generative AI and cloud services as well as the growing need to outsource IT services, the growing demand for data centres is a key driver of digital infrastructure. Leveraging global market trends and thematics such as digitalisation, MKIF continues to provide investment opportunities to investors and wants to contribute to the development of the future industry.”
