Maston Investment Management to Develop 10MW-Class Edge Data Center in Yeongdeungpo, Seoul

Maston Investment Management, an alternative investment asset management company, is set to develop a 10MW-class edge data center in the Yeongdeungpo-gu area of Seoul.

On October 17, Maston Investment Management announced that it is promoting a project to develop a 10MW-class edge data center at 94-144, Yeongdeungpo-dong 2-ga, Yeongdeungpo-gu, Seoul. The project developer is Edgecore PFV, and the construction contractor is Hanwha Construction Division. The site covers approximately 1,385 square meters (419 pyeong), with a total floor area of about 9,733 square meters (2,944 pyeong). The target for completion is the second half of 2028.

Maston Investment Management directly handled site acquisition and power supply for the project. The company attracted Hanwha as an investor and worked together with Hanwha Solutions Insight Division on permits, construction contracts, and project financing loans, establishing a stable business structure. After obtaining the necessary permits, project financing loans and groundbreaking were completed last month. This is considered the first case of an asset management company directly developing an edge data center in Seoul.

The data center is designed as a specialized facility for the financial sector in the Yeouido area of Seoul. Maston Investment Management secured a stable revenue base by attracting anchor tenants for a capacity equivalent to 6.5MW of IT load out of the total 10MW incoming power. The company is currently in discussions with KT Cloud for outsourced operations.

An edge data center refers to a data center with a capacity of 10MW or less, established within urban areas. It is used by businesses that require minimal latency, such as those involved in augmented reality (AR), virtual reality (VR), online video services (OTT), and financial institutions.

Unlike hyperscale data centers, which require large amounts of power, edge data centers use comparatively less electricity. They can be built on small urban plots or on certain floors of existing buildings. Their smaller size reduces permitting risks, and their lower power intake means they can be operated using standard urban distribution lines commonly found in residential areas.

Namgoong Hoon, CEO of Maston Investment Management, said, "Maston Investment Management is proactively seeking to establish a foothold in the domestic edge data center market, recognizing its growth potential. Going forward, we plan to continue developing edge data centers by identifying optimal locations in partnership with various industry players, based on a stable business model."

A bird's-eye view of the edge data center under development in the Yeongdeungpo District of Seoul. Marston Investment Management.

This content was produced with the assistance of AI translation services.