SC Capital Partners Invests in NeoAI Cloud's 40MW AI Data Center in Pohang, South Korea

SC Capital Partners Group ("SC Capital Partners"), a Singapore-headquartered private equity real estate investment manager, announced Oct. 12 that it has completed an investment in a 40MW AI data center development in Pohang, South Korea, in partnership with NeoAI Cloud. The project also secured investment from government-backed capital, giving it public-sector support as a regional AI infrastructure initiative, the firm said.

NeoAI Cloud Pohang Project: Key Facts

The purpose-built, high-density facility is designed to support artificial intelligence workloads, with liquid-cooled infrastructure ready for next-generation GPUs, including NVIDIA Vera Rubin. The development has secured 40MW of gross power capacity and is targeted for completion by the end of 2027, according to SC Capital Partners.

The site is in the Gwangmyeong General Industrial Complex in Ocheon-eup, Nam-gu, Pohang, Gyeongsangbuk-do. The facility is expected to cover roughly 100,000 square meters, or about 1.08 million square feet. Phase 1 has 40MW of power-receiving capacity and 32MW of IT load, with a design power usage effectiveness of 1.25.

NeoAI Cloud, an AI infrastructure company focused on developing and operating large-scale computing infrastructure, is targeting commercial service in the fourth quarter of 2027.

Development Milestones and Financing

The project has achieved power approval, building permits and construction commencement, SC Capital Partners said. It has also secured an anchor tenant and received strong interest for the remaining IT load.

Total Phase 1 development cost is approximately KRW 600 billion. Project financing comprises about KRW 450 billion of project-finance debt and KRW 150 billion of equity capital. NeoAI Cloud completed the Phase 1 project-finance agreement on Oct. 7, enabling full-scale construction.

Comments From Suchad Chiaranussati and NeoAI Cloud

"We are excited to complete this investment, which represents our continued expansion into digital infrastructure in Asia Pacific," said Suchad Chiaranussati, chairman and founder of SC Capital Partners. "The development benefits from strong underlying fundamentals and is well positioned to serve the evolving requirements of the digital economy."

Chiaranussati added that the firm remains focused on identifying high-quality opportunities, particularly in South Korea, "where strong policy support for AI and digital infrastructure is contributing to a favourable environment for the sector," and on working with experienced local partners.

Jonathan Yongwan Jo, CEO of NeoAI Cloud, said the Pohang facility is envisioned to go beyond traditional colocation by pairing high-density infrastructure space with GPU-as-a-Service (GPUaaS) and AI platform capabilities. "Building on the successful delivery of this initial 40MW phase, we plan to advance a second phase expansion of 260MW and look forward to a continued partnership with SC Capital Partners," Jo said.

South Korea Data Center Market Context

South Korea's data center IT-load capacity is projected to rise from 1.96 GW in 2025 to 6.32 GW by 2030, a compound annual growth rate above 26%. Electricity demand is expected to grow sharply as AI facilities require denser GPU deployments and more cooling capacity than conventional cloud or enterprise data centers.

Grid availability and power-delivery timing have become major constraints on data center development in South Korea. The Pohang site lies outside the Seoul metropolitan area.

Phase 2 Expansion and SC Capital Partners Strategy

NeoAI Cloud is advancing a 260MW second-phase AI data center project and plans to expand from high-density colocation into GPUaaS, GPU clusters and AI platform services. If completed, Phase 2 would create a campus of roughly 300MW.

SC Capital Partners said the investment adds to its exposure to South Korea's digital infrastructure sector and reflects a focus on opportunities supported by long-term demand for computing infrastructure. Founded in 2004, the firm oversees USD 9.7 billion in assets under management as of June 30, 2026, and has a pool of more than 60 institutional investors globally. It invests through its opportunistic Real Estate Capital Asia Partners (RECAP) fund series, its core-plus SCORE fund series and tailored investment solutions. The firm has completed more than 100 transactions across Asia Pacific totaling over USD 7 billion, with 82% sourced off-market.

Sources

SC Capital Partners Group press release: https://www.sccpasia.com/sc-capital-partners-completes-investment-in-40mw-ai-data-center-development-in-south-korea/