— Expands presence in Northeast Asia with carrier-neutral facility in Seoul
Digital Realty (NYSE: DLR), a leading global provider of data center, colocation and interconnection solutions, announced today it has entered into a definitive agreement to acquire land in Seoul, South Korea for the development of a new, carrier-neutral data center facility. The site is located within the Sangam Digital Media City in northwest Seoul, a newly developed urban planning zone focused on technology and media companies, designed to promote South Korea’s digital economy.
The 22,000 square foot land parcel is being sold by the Seoul Metropolitan Government and will support the development of up to 12 megawatts of critical IT capacity. Construction is expected to commence within the coming months and to be complete in 2021.
“Our entry into South Korea is an important milestone as we continue to expand our platform across the Asia Pacific region,” said Digital Realty Chief Executive Officer A. William Stein. “South Korea is incredibly well positioned as a digital hub and center for innovation within the region, given the growing global demand for big data, mobile services and connected devices. Our investment in Korea demonstrates our commitment to powering our customers’ digital ambitions across a truly global platform.”
Upon completion, the new facility will span more than 129,000 square feet and will rise 10 stories above ground and extend three stories below grade. The new facility will offer clients excellent connectivity with diverse fiber routes secured via strategic partners.
“South Korea is one of the largest data center markets in the region, and we are pleased to be able to help drive the country’s digital transformation and bring value to our customers in the region and around the world,” added Mark Smith, Managing Director, Asia Pacific for Digital Realty. “With a population of more than 25 million, the Seoul Capital Area is one of the largest metropolitan areas in the world and home to half of all the residents in South Korea. It’s the ideal location for building our first facility in the country and bringing our differentiated, carrier-neutral solutions to meet pent-up local and global customer demand.”
Digital Realty is one of the world’s largest owners, developers and operators of highly reliable data center facilities. The new Seoul development will strengthen Digital Realty’s presence within the Asia Pacific region, where the company currently operates a network of industry-leading data centers located in Tokyo, Osaka, Hong Kong, Singapore, Sydney and Melbourne. In 2018, Digital Realty achieved “five nines” of uptime for the 12th consecutive year, surpassing 2.1 billion operating minutes across data center suites owned and operated by Digital Realty worldwide.
About Digital Realty
Digital Realty supports the data center, colocation and interconnection strategies of more than 2,000 firms across its secure, network-rich portfolio of data centers located throughout North America, Europe, Latin America, Asia and Australia. Digital Realty’s clients include domestic and international companies of all sizes, ranging from cloud and information technology services, communications and social networking to financial services, manufacturing, energy, healthcare and consumer products. .
