INTELLIGENT BRANDS // Green Technology

Empyrion DC signed a binding agreement with a local promoter to acquire 100 % of the development rights , with plans to invest up to US $ 400 million in GDC . Closing was expected to take place before end of September 2022 subject to satisfaction of customary closing conditions .

Gangnam is widely recognized as the ‘ Silicon Valley ’ of Seoul and is home to several of the largest Korean conglomerates such as Hyundai , Kia , LG and Samsung . As there has been no new data center development in Gangnam for over a decade , Empyrion

DC ’ s GDC project will alleviate the data center supply shortage in Gangnam and the broader metropolitan Seoul area . The project is shovel-ready and the team expects to commence construction before the end of 2022 .

Empyrion DC has partnered with leading architects and engineers to develop GDC into Seoul ’ s first green energy enabled data center . The project will utilize high-efficiency Building Integrated Photovoltaic Panels ( BIPV ) on the facade of the 10-story project . Empyrion DC also leverages its in-house expertise in energy management to reduce its carbon footprint and develop GDC in line with world-class energy efficiency standards .

“ Leveraging our deep local networks in Seoul , we sourced this exclusive transaction that wasn ’ t available in the market ,” said James Chern , Chairman and Managing Partner of Seraya Partners . “ As Seoul is running out of data center supply and as we plan to achieve ‘ ready-for-service ’ status in 2024 , we already have customers requesting to lease entire floors .”

Empyrion DC is a portfolio company fully owned by funds managed by Seraya Partners .

Upon closing , GDC will be Empyrion DC ’ s second data center investment . Empyrion DC also owns and operates SG1 Dodid Data Center in Singapore and beyond that , it has a pipeline of over 200 MW of projects across Asia .

Empyrion DC is headquartered in Singapore with regional offices in Seoul and Taipei . p

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