In accordance with the government’s policy to decentralise data centres, the Greater Seoul Area claimed a 77% share of Korea’s national data centre market in the 2H 2023 period, down from 85% recorded in our 1H update as the share of areas outside of Greater Seoul, such as Gangwon, Pohang and Sejong, has grown. Despite the efforts, data centre power supply demand is set to be concentrated in the GSA, and profiteering activities via the pre-emption of electricity have occurred with the increasing value of sites with secure electricity supply capacity. In the second half of 2023, seven data centre projects obtained new building permits, three completed the commencement notice, and three completed construction.
Seoul Data Center Market Report
Jamie Bang • 21/02/2024
Insights
![APAC Marketbeat](https://cw-gbl-gws-prod.azureedge.net/-/media/cw/apac/marketbeats/storycard_korea.jpg?rev=2c969e951d39434db3796f0cc67b9b41)
MarketBeat
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.
Jamie Bang • 07/05/2024
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Insights • Workplace
An office fit out refers to the process of designing and constructing an office space to meet the specific needs of the occupier. This can include everything from furniture and equipment to mechanical and electrical systems.
Dominic Brown • 19/03/2024
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Insights
2022 South Korea Market CRE Outlook Report
This report provides an outlook on the office and investment markets in Korea.
24/12/2021
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