Warburg Pincus, in partnership with South Korean data center developer DC Connects and Seoul-based asset manager Wide Creek AMC, has acquired a greenfield site in Yongin City to build an 80-megawatt hyperscale data center. Construction on the nearly 58,000 square meter facility has begun.
The site is located near Gangnam and Pangyo, areas known as major technology hubs in South Korea. The new facility will include advanced cooling systems capable of supporting high-density artificial intelligence applications ranging from 60kW to 200kW. It will also feature fan walls and coolant distribution units designed to serve global cloud service providers and enterprise clients working with AI and machine learning technologies. The data center is expected to be operational by 2027.
Dongkun Cho, Principal of Warburg Pincus, said, “South Korea represents one of the most compelling markets for next-generation digital infrastructure investment. As Asia’s fourth-largest economy and one of the most advanced ICT ecosystems globally, the country continues to experience accelerating demand for data capacity, driven by AI adoption, cloud migration, and the government’s ‘Digital New Deal’ initiative. At the same time, the Greater Seoul area faces a limited pipeline of large-scale, well-permitted sites with secured power, creating a highly attractive supply–demand dynamic. Partnering with DC Connects and Wide Creek AMC, we are excited to develop a state-of-the-art, 80MW hyperscale data center in Yongin that will deliver reliability, efficiency, and high-density capabilities to meet the evolving needs of global and domestic technology leaders.”
Jaewoo Choi, Founder and CEO of DC Connects stated: “We are proud to break ground on a strategic asset designed from the ground up to meet growing demand from global and local cloud and AI leaders. With 80MW of capacity, best-in-class cooling and power systems, and built-in flexibility for rapid deployment, this data center will deliver the reliability, efficiency, and high-density capabilities that tenants need to operate at scale. This project brings together global expertise, local knowledge, and the dedication of our homegrown team. Together with our partners, we are committed to building secure, future-ready data centers that support our tenants’ long-term growth.”
Hosung Lee, Investment Director of Wide Creek Asset Management added: “We are pleased to announce the groundbreaking of our second hyperscale data center project. Located in southern Greater Seoul, the asset will be the only hyperscale data center expected to be operational in the area within the next three years, offering exceptional accessibility and industry-leading specifications to clients. The new data center is designed to serve as the optimal choice for clients pursuing AI adoption and digital transformation. We believe that this investment underscores our proven capabilities across the entire development cycle — from strategic land acquisition and regulatory approvals to contractor selection and construction management. Looking ahead, we plan to continue investing in the new economy sector through our strong partnership with Warburg Pincus.”
Warburg Pincus has been involved in private equity growth investing since its founding in 1966. The firm currently manages more than $86 billion in assets worldwide across over 220 companies in its portfolio. Since beginning investments in Asian real estate in 2005—including nearly $10 billion invested across approximately 60 platforms—Warburg Pincus has become one of Asia Pacific's largest investors in this sector.
DC Connects focuses on providing secure facilities supporting cloud computing services as well as AI-driven enterprises and agencies within South Korea.
Wide Creek Asset Management specializes in strategic investments related to property development cycles such as land acquisition through construction management.