South Korean firms sign MoU to build $3.6bn data centre park

South Korean firms sign MoU to build $3.6bn data centre park

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Land developer Korea Land & Housing Corp. and Korea Data Center Council has signed an agreement to spend $3.6 billion (4 trillion won) on a data centre park powered by green energy sources.

The pair signed a Memorandum of Understanding last week Friday and will team up with local power generator Korea Hydro & Nuclear Power to build the green energy-based data centre complex that will be utilising efficient energy technology and energy recycling systems, according to the Korea Herald.

Both companies will also jointly roll out support measures to grow the data and alternative energy sectors.

The 968,000 sqf campus will consist of three data centres, and in a bid to secure a competitive edge in the global data centre market, Korea Land & Housing Corp. revealed it would try to attract investment by issuing public real estate investment trusts and advance the infrastructure of the data centre complex nearby.

Korea Land & Housing Corp. and Korea Hydro & Nuclear Power will also work to run joint projects to install renewable energy systems in smart cities built by the government-owned company.

Elsewhere, Korea Land & Housing Corp. recently announced that it held a kick-off briefing for the  "big data platform and service deployment" project to improve housing quality and customer satisfaction through process innovation based on big data analysis at the LH building in Ori, Seongnam-si, Gyeonggi-do on October, 28.

The company said its big data platform project is part of an effort to lead digital innovation in line with the Fourth Industrial Revolution by creating a data-driven work culture including collection, convergence, and analysis of internal and external data, and expanding the disclosure of public data.

The company also recently signed an MoU with the city of Cuzco in Peru for the development of a smart city on the  Cuzco Astete International Airport site and overall cooperation in the development project of Cuzco.

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