- May 1, 2022: Vol. 14, Number 5

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CPP Investments, Pacific JV to develop Seoul data centre

by Jennifer Molloy

The C$550.4 billion (US$440.0 billion) Canada Pension Plan Investment Board (CPP Investments) and Pacific Asset Management Co (Pacific) intend to develop the largest carrier-neutral hyperscale data centre, Jukjeon Data Centre, in South Korea in a KRW 200 billion (US$164 million) joint venture. CPP Investments and a fund managed by Pacific will commit KRW 137 billion (US$112 million) in equity for the project’s development, with CPP Investments allocating KRW 126 billion (US$103 million). Other investors in the joint venture include Dreammark 1, GS Retail, and Shinhan Investment Corp.

Located in the eastern part of the Seoul metropolitan area, Jukjeon Data Centre is close to the Pangyo Techno Valley, a technology hub known as South Korea’s Silicon Valley. The data centre also provides connectivity to multiple telecom carriers.

“Demand for data centres in Asia Pacific continues to grow and is boosted further by the COVID-19 pandemic. Companies in South Korea are in

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