RealityGen, which has launched a project to build an artificial intelligence (AI) data center, secured an investment of 15 billion won from Korea Financial Investment Group. RealityGen plans to team up with PeopleBio to begin in earnest a project to build an AI edge data center in Seoul's Gangnam area.
On the 2nd, RealityGen said it had secured a 15 billion won investment from Korea Investment Real Asset Management for use as primary project funds related to the construction of a new AI edge data center within the Samseong-dong International Business District.
RealityGen is pushing ahead with the AI edge data center construction project jointly with PeopleBio. Earlier, the two companies signed a joint project agreement on Apr. 27 and agreed to jointly carry out data center-related projects. Accordingly, they plan to work together on overall project management (PM), supply of key mechanical, electrical and plumbing (MEP) equipment, operations and hosting services.
The AI edge data center being pursued this time has a capacity of 9 megawatts (MW). The company expects the data center to generate about 28 billion won in annual operating revenue. The total project value is estimated at more than 400 billion won.
A PeopleBio official said, "As use of Generative AI services has surged recently, bottlenecks are worsening in data centers and in the edge section that handles AI inference," and added, "In particular, demand for data processing is expanding rapidly centered on the Gangnam area."
Earlier, PeopleBio received building permit approval related to the AI data center in Apr., and on the 12th of last month added the AI data center and equipment business to its articles of incorporation as a business purpose. The two companies plan to accelerate data center construction while pursuing project financing (PF) for the main project going forward.