> ## Content Index > Fetch the complete content index at: https://www.sotkn.com/llms.txt > Use this file to discover other available public pages before exploring further. # ₩600 Billion for 32 MW: Who Gets Paid as Korea's AI Data Centres Leave Seoul - URL: https://www.sotkn.com/markets/korea/korea-pohang-ai-data-centre-financing-october-2026/ - Published: 2026-10-14T08:15:39.000Z - Updated: 2026-10-14T08:15:39.000Z - Description: Korea's new AI data centres are being built far from Seoul, where the power is. A ₩600 billion deal just funded a 32 MW hall in Pohang, half of it pre-leased. Lenders and builders are paid first. The grid decides where the halls can go at all. - Author: Sean - Tags: #market-korea, Markets *Korea's new AI data centres are being built far from Seoul. On 12 October NeoAI Cloud said it had closed ₩600 billion to build a 32 MW AI hall in Pohang, on the south-east coast, with half of it already leased. Two days later a cooling supplier said it had been picked to fit 160 chillers at a 200 MW AI site in Gumi. Lenders and builders are paid first. What decides where these halls can go at all is the grid: the power has to reach the site before any tenant pays.* **KOREA PULSE** · AI DATA CENTERS · Data as at 14 Oct 2026 · Next update: OTEC Carrier's final Gumi contract, date not set **Affects:** [AI Data Centers](https://www.sotkn.com/stack/ai-data-centers/) · [Neoclouds](https://www.sotkn.com/stack/neoclouds/) — Markets: [Korea](https://www.sotkn.com/markets/korea/) · [Malaysia](https://www.sotkn.com/markets/malaysia/) · [Singapore](https://www.sotkn.com/markets/singapore/) · [US](https://www.sotkn.com/markets/us/) **In short:** Between 28 September and 14 October, four Korean AI data centre projects outside the Seoul region moved forward with names and numbers attached. In Pohang, NeoAI Cloud closed a ₩450 billion project loan and ₩150 billion of equity for a hall with 40 MW of power and 32 MW for computers, due in late 2027\. NHN Cloud has pre-leased 16 MW. In Gumi, OTEC Carrier was picked to supply 160 chillers for a 200 MW AI site. In Gunsan, Hyundai Engineering won an ₩870 billion job for a 60 MW first phase. In Gangneung, a 1 GW plan was cut to 400 MW to fit the substation. Lenders and builders are paid first. The stuck step is the grid connection. Map of who gets paid — not a buy list. Education only, not advice to buy or sell any security. Figures are as stated by the companies or reported. A preferred bidder is not a signed contract. Our own sums are labelled. ### The numbers that matter this week Pohang Phase 1, total funding ₩600B ₩450B loan + ₩150B equity · 12 Oct Reported Pohang IT load 32 MW From 40 MW of power coming in Reported Pre-leased to NHN Cloud 16 MW Half of the IT load · opens Q4 2027 Reported Gumi AI cluster chillers 160 For 200 MW of IT · preferred bidder 8 Oct Reported Gunsan first phase ₩870B 60 MW of a 300 MW cluster · 28 Sep Reported New grid requests near Seoul 70% 598 of 853 · a new 345kV line \~13 years Stuck step Figures from NeoAI Cloud's statement of 12 October, OTEC Carrier's statement of 14 October, Hyundai Engineering's statement of 28 September 2026 and KEPCO as reported in April 2026\. Status chips are Second Order’s read. **On this page:** [Why it matters](#why-it-matters) · [What changed](#what-changed) · [The Pohang deal](#pohang) · [Gumi and Gunsan](#gumi-gunsan) · [Why Seoul is full](#the-grid) · [Our math](#our-math) · [Who gets paid](#money-goes) · [What is stuck?](#still-stuck) · [Dates next](#dates) · [What would change this](#change-view) · [FAQ](#faq) ## Why are Korea's AI data centres moving away from Seoul? Because a data hall can only be built where power can reach it. Most of Korea's cloud customers, offices and older data centres sit in and around Seoul. That is where companies would like to build. But the Seoul region already uses much more electricity than it makes, and new high-voltage lines to bring more in take many years. So the new AI halls are going where the power already is: next to steelworks and power plants in Pohang, in the factory city of Gumi, on the west-coast industrial land of Gunsan and on the east coast at Gangneung. This matters for who gets paid. An AI hall earns nothing until its computers switch on, and they only switch on once the power company's line is connected. Pohang, with its power in hand, is due to open about a year and a half after its builder was picked. A site waiting on a new line can wait for a decade. For the stages of a build and how long each one takes, see [how long it takes to build an AI data center](https://www.sotkn.com/explained/how-long-does-it-take-to-build-an-ai-data-center/). On 11 October our [Korea fab power Pulse](https://www.sotkn.com/markets/korea/korea-sk-hynix-fab-power-october-2026/) showed that SK hynix wants to build chip plants faster than Korea's grid can be extended to them. This Pulse looks at the same grid from the other end: the AI data centres that will use the chips. They face the same wall, and they are answering it by moving. 1 · Power picks the site **Who:** Where KEPCO's grid has room **Paid:** Pohang, Gumi, Gunsan, Gangneung Stuck step 2 · Lenders and funds commit **Who:** Banks, global and state funds **Paid:** ₩600B lined up for Pohang Paid first 3 · Builders and gear makers bill **Who:** Contractors, chiller and power suppliers **Paid:** ₩870B Gunsan job · 160 Gumi chillers Paid next 4 · Tenants move in **Who:** Cloud and GPU companies **Paid:** NHN Cloud: 16 MW in Pohang Paid later ## What changed between 28 September and 14 October? Five announcements in just over two weeks, each with a named company and a number. - **28 September — a Gunsan build contract.** Hyundai Engineering said it had won the contract to build a 60 MW AI data centre in Gunsan, North Jeolla, for SGC Group. The total project is worth about ₩870 billion, about US$625 million, and ground was due to be broken in October. It is the first phase of a 300 MW cluster. - **2 October — Gangneung sized to the plug.** Gangwon Province confirmed the Okgye industrial complex as the site for an SK Group AI data centre. SK had planned 1,000 MW. The province proposed starting with about 400 MW, the amount the local substation can carry, and talking about the other 600 MW once more grid is built. - **7 October — an Incheon plan near Seoul.** KT Cloud said it will take part in a 50 MW AI data centre in Cheongna, Incheon, with building starting this quarter and finishing in the first quarter of 2030\. It wants more than 1 GW at the site by 2031. - **12 and 13 October — Pohang fully funded.** NeoAI Cloud said it had raised ₩600 billion, about US$445 million, for the first phase of its Pohang AI data centre. SC Capital Partners, a Singapore-based investment manager, announced its own stake in the same deal. - **14 October — Gumi picks its chillers.** OTEC Carrier said it had been named on 8 October as preferred bidder to supply cooling equipment for the Gumi AI Cluster data centre, a 200 MW site in North Gyeongsang built for Nvidia's next Rubin chips. Only one of the five sites, Cheongna, is in the Seoul region, and it is the one with the longest timetable. The other four are far outside it, from Gangneung on the east coast to Pohang about 270 km from Seoul. That pattern is the story. ## What does the Pohang deal show about how AI halls get paid for? ![Chart of the Pohang AI data centre deal: ₩450B project loan, ₩150B equity, 40 MW of power, 32 MW of IT load, 16 MW pre-leased to NHN Cloud](https://storage.ghost.io/c/cd/10/cd10e222-131f-4ba4-b4a9-ca4214e8c12d/content/images/2026/10/korea-pohang-ai-data-centre-financing-october-2026-print.png) Three-quarters loan, one-quarter equity, half pre-leased. · Education only. NeoAI Cloud is a Korean company that builds AI computing sites. Its Pohang data centre is going up in the Gwangmyeong industrial complex in the city's Nam district, about 270 km south-east of Seoul. Phase 1 can take 40 MW from the grid. Of that, 32 MW is for the computers; the rest runs cooling and power gear. The hall is built for liquid cooling and very dense racks of the kind Nvidia's coming Vera Rubin chips need. The money comes in two pieces. The larger is a ₩450 billion project loan, a loan made to this one hall and repaid from its own income. Woori Bank and KB Kookmin Bank arranged it, with Woori as agent bank; it was signed on 23 September and closed on 7 October. The smaller piece is ₩150 billion of equity, the owners' own money. NeoAI Cloud and SC Capital Partners are the main equity investors, alongside North Gyeongsang Province, a state-backed fund for projects outside Seoul, and Korean financial firms. Pohang Phase 1, as announced Total costAbout ₩600B · about US$445M Project loan₩450B · Woori Bank and KB Kookmin Equity₩150B · NeoAI Cloud, SC Capital, funds Power in / IT load40 MW / 32 MW OpensFourth quarter of 2027 What is already settled PowerSecured · approval in hand Building permitGranted BuilderHyundai E&C · picked June 2026 Anchor tenantNHN Cloud · 16 MW pre-leased Next phase260 MW · in development Three details explain why the banks were willing. First, the power is already secured. NeoAI Cloud names it first among the steps already done, ahead of the building permit. Second, half the computer space is leased before the walls are up: NHN Cloud, one of Korea's main cloud companies, has committed to 16 MW and is also expected to help run the site. Third, Hyundai Engineering & Construction, the builder, has promised to finish the job as part of the financing, so the banks are not left holding a half-built shell. The state is in the deal too. The project was chosen in August as the ninth investment of the Regional Revitalization Investment Fund, which the government set up in 2024 to pull private money into large projects outside the Seoul region. North Gyeongsang said at the time it had helped bring in ₩131.5 billion through that fund and put in ₩4 billion of its own. Public money is being used to tilt AI building away from Seoul. NeoAI Cloud does not want to stop at leasing space. It plans to sell GPU computing by the hour on site as well, the business our [neocloud layer](https://www.sotkn.com/stack/neoclouds/) covers. That would make it both landlord and GPU seller. For the difference between a hall built for one big customer and one shared by many, see [hyperscale versus colocation](https://www.sotkn.com/explained/hyperscale-vs-colocation-data-center/). ## What do Gumi and Gunsan add? Gumi is bigger. The Gumi AI Cluster data centre is planned at 200 MW of computer load, built for Nvidia's Rubin platform, in a city long known for electronics factories. OTEC Carrier, which supplies the US firm Carrier's cooling machines in Korea, says it was named preferred bidder on 8 October to supply the cooling. If a final contract is signed, it will deliver 160 air-cooled chillers, the largest single order it has handled. It follows an earlier 48 MW hyperscale job. A preferred bidder is not a signed contract, and OTEC Carrier did not give a price. But the order tells you how far along Gumi is. A site does not pick 160 chillers unless it expects to have the power to run them. Hyundai Engineering said in September that it was preferred bidder to build data centres in both Gumi and Incheon and hoped to sign this year. Gunsan is further along. Hyundai Engineering has a signed contract for the first 60 MW of SGC Group's planned 300 MW cluster, and expects first rights to the next 240 MW. It will put up the building and run the cooling and power gear, including cooling towers, chillers and switchgear. KT Cloud supplies the backup batteries and the control systems. Vertiv, the US power and cooling maker, supplies modules built in a factory and dropped into place, which cuts time on site. Hyundai Engineering says its data centre orders this year should reach about ₩1.9 trillion if Gumi and Incheon are signed. Both sites are being designed for Nvidia's next chips, which pack far more power into each rack. KEPCO's own planners said in April that a top GPU rack used about 13 kW in 2020 and 130 kW in 2025, and could reach about 600 kW. That is why so much of these contracts is cooling and power gear rather than concrete. For why the whole rack is now the unit that matters, see [rack-scale AI, explained](https://www.sotkn.com/explained/rack-scale-ai-explained/). ## Why can't these halls just be built near Seoul? ![Chart of Korea's AI data centre first phases outside Seoul: Gangneung 400 MW, Gumi 200 MW, Gunsan 60 MW, Pohang 40 MW, against later plans](https://storage.ghost.io/c/cd/10/cd10e222-131f-4ba4-b4a9-ca4214e8c12d/content/images/2026/10/korea-pohang-ai-data-centre-financing-october-2026-shift.png) The first phases are sized to the plug. The plans are much bigger. · Education only. Because the Seoul region's grid is already the most crowded part of the map. Speaking at an energy forum in April, KEPCO's head of system planning said that as of March, 598 of 853 new requests to connect to the grid, about 70%, were in the capital region. Yet that region makes only about 61% of the power it uses and has to pull the rest in from elsewhere. Pulling more in is slow. KEPCO says a new 345,000-volt line usually takes about 13 years from start to finish, because of picking the route, winning over local residents, permits and building. A data centre takes two or three years. So the line, not the hall, sets the clock near Seoul. KEPCO is also short of money to speed things up. It plans to spend ₩72.8 trillion on lines and substations by 2038 to serve chip plants and AI data centres. But it carried ₩210.7 trillion of debt at the end of June and pays about ₩11.5 billion of interest a day. In September Samsung and SK hynix turned down its request to prepay ₩25 trillion of future power bills to fund the grid. Put those together and the choice for an AI builder is simple. Build near Seoul and wait for the line, or build where the line already has room and accept being further from customers. Gangneung shows the trade clearly: SK wanted 1 GW there, and the first phase is 400 MW because that is what the substation can carry. Pohang's hall is small, but its power is already in hand. ## Our math: what do the numbers say? - Cost per megawatt in Pohang: ₩600 billion over 32 MW of IT load is about ₩18.8 billion per MW, or about US$13.9 million per MW at the reported US$445.3 million (our arithmetic). - Loan share: ₩450 billion of the ₩600 billion is 75% debt and 25% equity (our arithmetic). - Already leased: NHN Cloud's 16 MW is 50% of the 32 MW of IT load before the hall opens (our arithmetic). - Power that never reaches a chip: 40 MW in against 32 MW of IT load leaves 8 MW, or 20% of what the site draws, for cooling and power gear (our arithmetic). - Gunsan cost per megawatt: ₩870 billion over 60 MW is about ₩14.5 billion per MW, though this may not include the same items as Pohang's total (our arithmetic). - Cooling per chiller in Gumi: 200 MW of IT load over 160 chillers is about 1.25 MW per machine (our arithmetic). - Sized to the plug: the four sites' first phases add up to 700 MW (400 + 200 + 60 + 40). Their stated full plans add up to about 1,800 MW (1,000 + 200 + 300 + 300), so roughly 39% is in a first phase today (our arithmetic). - KEPCO's interest bill: ₩11.5 billion a day is about ₩4.2 trillion a year, about 6% of its whole ₩72.8 trillion grid plan every year (our arithmetic). What this tells you: money and tenants are not what is missing. A small hall with power in hand can be funded three-quarters by banks and be half-leased before it opens. What is missing is grid room, and that is why big plans arrive as much smaller first phases. ## Who gets paid first? ![Infographic: who gets paid as Korea's AI data centres move away from Seoul, and why the grid connection is the stuck step](https://storage.ghost.io/c/cd/10/cd10e222-131f-4ba4-b4a9-ca4214e8c12d/content/images/2026/10/korea-pohang-ai-data-centre-financing-october-2026-infographic.png) Who gets paid / stuck step as Korea's AI halls leave Seoul. · Education only. First, the lenders — from the day they lend. Woori Bank, KB Kookmin and the other lenders earn interest as soon as the ₩450 billion is drawn, whether or not a single GPU is running. The builder's promise to finish protects them against the main risk of a half-built hall. Second, the builders — stage by stage. Hyundai E&C bills NeoAI Cloud as the Pohang hall goes up. Hyundai Engineering bills SGC Group as the Gunsan hall goes up. Both are paid while the halls are still dark, which is why Korea's builders are chasing these jobs: Hyundai Engineering set up a data centre unit only six months before its Gunsan win. Third, the equipment makers — on delivery. Chillers, switchgear, transformers, batteries and factory-built power modules are bought before a hall opens. OTEC Carrier, Vertiv and, for Gunsan's batteries and controls, KT Cloud are paid as their gear arrives. Gumi's 160 chillers show how much of an AI hall's cost now sits in this layer. Fourth, KEPCO — once connected. The utility starts billing for power when a hall switches on. For now it carries the cost of building the grid long before it is paid, which is the pattern our [members' Analysis on utilities](https://www.sotkn.com/analysis/utilities-bill-data-centers-before-power-where-cash-sticks/) describes. Fifth, the hall owners — as tenants move in. NeoAI Cloud and its investors, SC Capital among them, only start to earn when NHN Cloud and later tenants switch on in late 2027\. The 16 MW still unlet is their risk. Last, the tenants — when their computers are busy. NHN Cloud pays under its lease once it moves in, but only earns when it sells computing to its own customers. For why idle GPUs earn nothing, see [GPU utilization, explained](https://www.sotkn.com/explained/gpu-utilization-explained/). One-line rule: in Korea right now, lenders are paid from the day they lend, builders and gear makers are paid as they build, KEPCO is paid once connected, hall owners are paid as tenants switch on, and the tenants wait longest. The stuck step is the grid connection. ## So what is the stuck step? The grid connection — the line and substation that let a finished hall draw power. Not money: Pohang raised ₩600 billion with a global fund and state money in. Not tenants: half of Pohang is let and Gumi is ordering cooling for 200 MW. Three things make the connection stick: - **Place:** 70% of new grid requests are near Seoul, where power is shortest. Halls that want to be near customers queue the longest. - **Time:** a new 345kV line takes about 13 years against two or three years for a hall. Building faster does not help if the line is not there. - **Money:** KEPCO has a ₩72.8 trillion grid plan and ₩210.7 trillion of debt, and the chipmakers would not prepay to fund it. So-what: halls that already have their power, like Pohang, get built and paid on time. Big plans get cut to the size of the nearest substation, as Gangneung was. The same wall shows up in Malaysia, where [DayOne's halls wait for their landing stations](https://www.sotkn.com/markets/malaysia/malaysia-dayone-financing-substation-october-2026/), in the US, where [the biggest grid is 6.8 GW short](https://www.sotkn.com/markets/us/us-pjm-capacity-shortfall-october-2026/), and in Singapore, where [the state rations data centre power](https://www.sotkn.com/markets/singapore/singapore-data-centre-licence-october-2026/). For the general rule, see [where cash sticks when halls are signed first](https://www.sotkn.com/analysis/halls-signed-before-customers-where-cash-sticks/). ## Which dates test this read next? ![Calendar of dates that test whether the grid connection stays the bind for Korean AI data centres](https://storage.ghost.io/c/cd/10/cd10e222-131f-4ba4-b4a9-ca4214e8c12d/content/images/2026/10/korea-pohang-ai-data-centre-financing-october-2026-calendar.png) Dates that test the read. · Education only. - October 2026 — Gunsan groundbreaking, as Hyundai Engineering planned. The test: whether the first 60 MW starts on time. - Fourth quarter of 2026 — KT Cloud's Cheongna build starts in Incheon. The test: whether a site near Seoul can hold its 2030 date. - Date not set — OTEC Carrier's final Gumi contract, and Hyundai Engineering's Gumi and Incheon contracts. The test: whether preferred bids turn into signed orders. - Fourth quarter of 2027 — Pohang Phase 1 opens and NHN Cloud moves in. The test: whether a funded, powered hall opens on its date, and who takes the other 16 MW. - Not set — Gangneung's other 600 MW and Pohang's 260 MW second phase. The test: whether new grid capacity arrives in time to let the plans grow. The building dates matter for builders and gear makers. The grid dates matter for everyone else, because they decide how big each site can ever get. ## What would change this view? - KEPCO finds a faster way to connect large loads, for example by sharing costs with users — the stuck step eases and plans near Seoul speed up. - A funded hall outside Seoul slips past its date for reasons other than power — the bind would be building or equipment, not the grid. - Pohang's last 16 MW stays unlet into 2027 — demand would join power as a second gate. - Preferred bids in Gumi or Incheon fall through — money or tenants, not the grid, would be holding those sites back. ## Practical takeaways - NeoAI Cloud raised ₩600 billion for a 32 MW Pohang AI hall: ₩450 billion of loans and ₩150 billion of equity - NHN Cloud has pre-leased 16 MW, half the hall, which opens in the fourth quarter of 2027 - OTEC Carrier was picked to supply 160 chillers for Gumi's 200 MW AI site, pending a final contract - Hyundai Engineering is building Gunsan's first 60 MW for about ₩870 billion - Lenders, builders and gear makers are paid first; hall owners are paid as tenants switch on - Stuck step: the grid connection, which is why the new halls sit far from Seoul ## FAQ **What is NeoAI Cloud's Pohang data centre?** It is a data centre built only for AI computers, in an industrial park in Pohang on Korea's south-east coast, about 270 km from Seoul. Phase 1 has 40 MW of power coming in and 32 MW for the computers themselves. It costs about ₩600 billion, is due to open in the fourth quarter of 2027, and NHN Cloud has already pre-leased half of it. A 260 MW second phase is being planned. **What is project finance?** It is a loan made to one project rather than to a whole company. The banks are repaid from the project's own income, here the lease payments for the data hall, so they care a lot about whether tenants have signed and whether the builder has promised to finish. In Pohang, Woori Bank and KB Kookmin Bank arranged a ₩450 billion loan of this kind. **Why are Korea's AI data centres being built outside Seoul?** Mostly because of power. Most new requests to plug into the grid are near Seoul, but the Seoul region makes far less electricity than it uses, and a new high-voltage line can take about 13 years to build. Places like Pohang, Gumi, Gunsan and Gangneung sit near power plants and have room to grow, so a hall can get connected sooner. **What is the difference between power capacity and IT load?** Power capacity is everything the site can draw from the grid. IT load is the part that reaches the computers. The rest runs cooling, lighting and power conversion. In Pohang the gap is 40 MW against 32 MW, so about a fifth of the power never touches a chip. **Is this investment advice?** No. Education only. It maps who gets paid and which step is stuck. It is not a recommendation to buy or sell any security. ## Keep reading on the map - [Korea Markets hub](https://www.sotkn.com/markets/korea/) — country page - [Korea fab power Pulse](https://www.sotkn.com/markets/korea/korea-sk-hynix-fab-power-october-2026/) — SK hynix builds faster than the grid - [Samsung's ₩107 trillion quarter](https://www.sotkn.com/markets/korea/korea-samsung-q3-profit-october-2026/) — who gets paid when memory sells - [Malaysia DayOne Pulse](https://www.sotkn.com/markets/malaysia/malaysia-dayone-financing-substation-october-2026/) — money lent, plugs still being built - [What is an AI data center?](https://www.sotkn.com/explained/what-is-an-ai-data-center/) · [AI Data Centers on the stack](https://www.sotkn.com/stack/ai-data-centers/) - [All Markets doors](https://www.sotkn.com/markets/) — Taiwan, Korea, US, China, Singapore, Australia, Malaysia **Get the Wire.** Second Order’s free daily brief on what moved in the AI chip map. [Read the Wire →](https://www.sotkn.com/the-wire/) · [Subscribe free →](https://www.sotkn.com/#/portal/signup) **Members’ Analysis (teaser):** When utilities bill data centres before the power arrives, where does cash stick? The free line: whoever builds the connection is paid before whoever uses it. [Read the Analysis →](https://www.sotkn.com/analysis/utilities-bill-data-centers-before-power-where-cash-sticks/) **How we check this.** The Pohang deal comes from NeoAI Cloud's own statement of 12 October 2026, as published by The Asia Business Daily, and from SC Capital's announcement of 13 October. The lending banks and the regional fund come from Mingtiandi's report of the same deal. The Gumi chiller order comes from OTEC Carrier's statement of 14 October. The Gunsan, Incheon and Gangneung projects come from the companies and local governments as reported. KEPCO's grid figures come from its officials and plans as reported by Aju Press. Analyst price targets and buy calls are left out on purpose. Anything we worked out ourselves is labelled “our arithmetic”. A preferred bidder is not a signed contract, and a planned megawatt is not a running one, and we say so. The references we used are listed at the end. [Our editorial standards →](https://www.sotkn.com/editorial-standards/) Not investment advice. Do your own research. --- ### References 1. The Asia Business Daily, NeoAI Cloud Completes KRW 600 Billion Financing for Pohang AI Data Center, 12 Oct 2026\. [asiae.co.kr](https://www.asiae.co.kr/en/article/2026101211032136359?ref=sotkn.com) — the loan and equity split, power and IT load, NHN Cloud pre-lease, contractor and service date. 2. Mingtiandi, SC Capital Takes Equity Stake in Korean AI Data Centre in $445M Financing Round, 13 Oct 2026\. [mingtiandi.com](https://www.mingtiandi.com/real-estate/data-centres/sc-capital-takes-equity-stake-in-korean-ai-data-centre/?ref=sotkn.com) — the lending banks, the completion commitment and the regional fund. 3. Institutional Real Estate, SC Capital Partners invests in 40MW AI data center in South Korea, 13 Oct 2026\. [irei.com](https://irei.com/news/sc-capital-partners-invests-in-40mw-ai-data-center-in-south-korea/?ref=sotkn.com) — SC Capital's own description of the site and its completion target. 4. Seoul Economic Daily, Ohtech Carrier Picked as Preferred Bidder for Gumi AI Data Center Cooling, 14 Oct 2026\. [en.sedaily.com](https://en.sedaily.com/finance/2026/10/14/ohtech-carrier-picked-as-preferred-bidder-for-gumi-ai-data?ref=sotkn.com) — the 200 MW Gumi project and the 160-chiller order. 5. The Asia Business Daily, OTEC Carrier Selected as Preferred Negotiator to Supply Cooling Equipment for 200-MW Gumi AI Data Center, 14 Oct 2026\. [asiae.co.kr](https://www.asiae.co.kr/en/article/2026101410060060536?ref=sotkn.com) — the 8 October selection and the chiller specification. 6. Seoul Economic Daily, Hyundai Engineering Wins 870 Billion Won Gunsan AI Data Center Deal, 28 Sep 2026\. [en.sedaily.com](https://en.sedaily.com/finance/2026/09/28/hyundai-engineering-wins-870-billion-won-ai-data-center?ref=sotkn.com) — the Gunsan 60 MW first phase, the 300 MW cluster and the 2026 order target. 7. The Asia Business Daily, KT Cloud to Build 50MW-Class Cheongna AI Data Center, 7 Oct 2026\. [asiae.co.kr](https://www.asiae.co.kr/en/article/2026100713541366962?ref=sotkn.com) — the Incheon site's size and timetable. 8. The Herald Business, Okgye industrial complex confirmed as site for Gangneung's 400 MW AI data center, 2 Oct 2026\. [biz.heraldcorp.com](https://biz.heraldcorp.com/article/10892198?ref=sotkn.com) — the 1 GW plan cut to a 400 MW first phase sized to the substation. 9. Aju Press, KEPCO official urges proactive grid buildout as AI power demand surges, 29 Apr 2026\. [ajupress.com](https://www.ajupress.com/view/20260429172570601?ref=sotkn.com) — connection requests near Seoul and the 13-year line clock. 10. Aju Press, Samsung and SK Hynix Reject KEPCO's 25 Trillion Won Prepayment Proposal, 14 Sep 2026\. [ajupress.com](https://www.ajupress.com/view/20260914090870192?ref=sotkn.com) — KEPCO's grid budget, debt and daily interest.