Mastern Investment Management said on the 17th it is pushing a project to develop a 10MW-class edge data center at 94-144, Yeongdeungpo-dong 2-ga, Yeongdeungpo-gu, Seoul.
The project company is "Edge Core PFV," and the builder is Hanwha, construction division. It will be developed on a site of about 1,385㎡ (419 pyeong) with a total floor area of about 9,733㎡ (2,944 pyeong), and aims for completion in the second half of 2028.
Mastern Investment Management directly handled site sourcing and securing power for this project. It then attracted Hanwha as an investor and, together with the Hanwha Solutions Insight division, carried out permits and approvals, the construction contract, and project financing (PF) loans. After completing permits and approvals, Mastern Investment Management finalized the PF loan and started construction last month.
This data center is designed as a specialized facility targeting financial institutions in the Yeouido area. Mastern Investment Management secured a stable revenue base by attracting anchor tenants for capacity equivalent to 6.5MW of IT load out of 10MW of incoming power, and is in talks with KT Cloud for outsourced operations.
"Edge data center" refers to a data center built within a city with a small capacity of 10MW or less. It is used to minimize latency (delay time) by businesses for which data response speed is critical, such as AR (augmented reality) and VR (virtual reality), OTT (over-the-top) services, and financial institutions.
Unlike hyperscale data centers that require large amounts of power, edge data centers use relatively less power, allowing construction on small urban sites or by utilizing certain floors of existing buildings. Their smaller scale also lowers permitting risks, and because they require less incoming power, they can be operated using urban distribution lines commonly used in general residential areas.
Chief Executive Officer Namgung Hoon of Mastern Investment Management said, "Mastern Investment Management is focusing on the growth potential of the domestic edge data center market and aims to establish an early presence in the market," adding, "We plan to continue developing edge data centers by discovering optimal locations with partners across industries, based on a stable business model."