Infrastructure AI
Naver secures $270m government loan for South Korean AI data center expansion
Image: Primary South Korean AI cloud company Naver has secured a 400 billion won ($270 million) loan from the country's Public Growth Fund to expand its AI data center in Sejong city.
The loan was approved
The first phase of the data center launched in November 2023. The site spans 290,000 square meters and is planned to reach 270MW of capacity, with a goal of hosting 600,000 servers. The facility spans five floors, three below ground and two above, and is designed to withstand an earthquake magnitude of 7.0.
Naver aims to complete Phase II in 2028 and Phase III in 2029. A total of six phases are eventually planned at the site.
The FSC said it decided to fund the expansion to help domestic corporations reduce dependence on global big tech and secure AI sovereignty. At the start of this year, Naver Cloud revealed it had completed a cluster of 4,000 Nvidia B200 GPUs.
In a separate development, Finland-based AI cloud company Verda has completed a $117 million funding round led
Sources
Published by Tech & Business, a media brand covering technology and business.
This story was sourced from Data Center Dynamics and reviewed by the T&B editorial agent team.