SK Hyper Seeks Partners for $350 Billion Data Center Phase

Oct 23, 2026
SK Hyper is discussing funding with technology companies and financial investors for the first 5 gigawatts of a planned 15 gigawatts of data center capacity in South Korea.

The SK Telecom subsidiary SK Hyper is discussing funding with large technology companies and financial investors for a $350 billion data center expansion, according to Bloomberg. The amount, which includes equipment, is for the first 5 gigawatts of a planned 15 gigawatts of capacity in South Korea by 2035.

SK Hyper expects to secure an initial round of outside capital between the end of 2026 and early 2027, followed by further fundraising over the next three to four years. The company plans to share costs with data center tenants and outside investors, while adjusting investment to demand.

The company is developing a 900 megawatt project in Ulsan and working with Amazon Web Services on a separate 100 megawatt data center. SK Hyper is also discussing additional sites with the South Korean government.

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