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Busan attracted KRW 3.6tn investment from four companies to establish an eco-friendly data center

According to Yonhap News,

Four companies are set to build an eco-friendly data center to reduce carbon emissions in the scale of KRW 3.6 trillion at Eco Delta City, Gangseo-gu, Busan.

Busan-si announced that it will sign an MOU with four tenants of Eco Delta City Green Data Center Cluster on investing in and fostering the data center industry of KRW 3.6 trillion at Busan City Hall on February 6.

This is the largest-scale single investment case that mayor Park attracted since taking office.

The four tenant companies are Busan Eco Delta Green Data Center PFV, Empyrion DC Consortium, BEF&Mirae Asset Consortium, and Elice Group.

The data center is an essential infrastructure for the fourth industrial IT services, including AI, cloud, IoT, big data, and autonomous driving.

The data centers are generally low-energy efficient facilities due to large-scale usage of power, Green Data Center that Busan is promoting will adopt eco-friendly technology that can reduce carbon emissions.

The MOU signing ceremony has been prepared as the investment was confirmed after companies selected in September last year by Busan-si as tenants went through signing of the site sales and purchase contract with K-Water, an operator of the Eco Delta City project.

Currently, Busan Eco Delta Green Data Center PFV and Elice Group have completed the site contracts, and the others plan to complete the contracts soon.

The companies plan to commence construction of the Green Data Center in the early next year after finalizing administrative procedures such as architectural designing, and licensing within this year and start operation in the second half of 2027 in earnest.

When the four companies implement investment of KRW 3.631 trillion in the construction of the Green Data Center, it is expected to create 1,022 jobs.

The city expects that the establishment of the Green Data Center will lead to production inducement effect of KRW 8.298 trillion, added-value inducement effect of KRW 3.4552 trillion, and 55,449 job creation inducement effect, contributing to increasing local tax income and revitalizing the local economy.

Busan's mayor said, "we have attracted the best four companies to create a green data center that will make great economic ripple effects in the local industries through eco-friendly design and great technologies, not existing factory-type data center," adding that "now it's become possible to attract companies in various upstream and downstream industries such as AI, semiconductors, cooling devices, and server equipment, among others."
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Source: Yonhap News (February 6, 2024)

** This article was translated from Korean.