Hanwha Construction Division Begins Construction of Yeongdeungpo Data Center
[Reporter Park Sung-jun from Dealsite] Hanwha Construction Division is building a data center in Yeongdeungpo, Seoul. It plans to build a distributed data center based on its experience in building data centers. Considering the size of the data center, it is known that it will be operated with a power supply capacity that will not cause damage to nearby residential areas.According to industry sources on the 13th, Hanwha Construction Division has begun preparations for the construction of a small data center in Yeongdeungpo-gu, Seoul. It appears that the location was chosen in consideration of the high demand for data in large business districts, including nearby Yeouido.
The project is being promoted by establishing a special purpose corporation, Edgecore PFV. Edgecore PFV was established on September 3rd and has an initial capital of 5 billion won. The project name is ‘Y-eDC Data Center Development Project.’
Currently, the project is in its early stages, and the start date and development share have not been determined. The building will be eight stories above ground and three stories underground. A Hanwha official said,
The water supply capacity is low enough to fit within an apartment complex.
The location of the site is Yeongdeungpo-dong 2-ga, Yeongdeungpo-gu, Seoul. The site area is 1,385㎡, and it was originally the site of a 4-story commercial building owned by an individual. The demolition was completed in 2021, and it has been left as an empty lot since then.
Edgecore PFV acquired the site in September of this year for the data center project. The project is currently in its early stages and recently secured bridge loan financing.
On the 1st of this month, 41 billion won was loaned to Edgecore PFV through the liquidation company Gaonhaejeocha (SPC). The funds raised will be used for purposes such as land purchase costs, related business expenses, and financial costs.
The maturity date is January 23 next year. Hanwha has strengthened its credit by assuming the obligation to supplement funds and assume debts of the project operator.
Hanwha Construction has been steadily increasing its competitiveness in data centers as a future source of income. So far, 11 data centers have been completed, and 2 more are under construction. If the Yeongdeungpo-gu project is completed, a total of 14 data centers will have been completed.
Hanwha Construction Division is also pursuing a data center developer business that goes beyond simple construction and participates in the development stage. The first developer-type business is the Changwon IDC cluster. Hanwha is also reviewing ways to utilize Hanwha Group’s eco-friendly energy infrastructure, including high-efficiency solar power generation, to build eco-friendly data centers in the future.
A Hanwha official said,
Since the project is in its early stages, we are in the process of making basic preparations for construction,
And added,
We are also discussing the appropriate scale of water supply capacity, taking into account the nearby housing complex.
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Hanwha Construction Division Begins Construction of Yeongdeungpo Data Center, source
