Canada Pension Plan Investment Board (CPP Investments) and Pacific Asset Management Company (Pacific) announced a KRW200 billion (C$214.3 million/$170 million) joint venture to develop the largest carrier-neutral hyperscale data center, Jukjeon Data Centre, in South Korea.
CPP Investments and a fund managed by Pacific will commit KRW 137 billion (C$146.8 million/$116.64 million) in equity for the project development, with CPP Investments allocating KRW 126 billion (C$135 million/$107.36). Other investors in the joint venture include Dreammark 1, GS Retail, and Shinhan Investment Corporation.
Located in the eastern part of the Seoul metropolitan area, Jukjeon Data Centre is near the Pangyo Techno Valley, a technology hub known as South Korea’s Silicon Valley. The data center also provides connectivity to multiple telecom carriers.
“Demand for data centers in Asia Pacific continues to grow and is boosted further by the COVID-19 pandemic. Companies in South Kor
