SGC AI Infra, the artificial intelligence data center unit of SGC Energy (005090.KS), has established a public-private partnership to carry out its project ahead of a construction start in the fourth quarter of this year.
The company said on the 26th that it signed an investment agreement for the AI data center project with Jeonbuk State, the city of Gunsan and the Korea Industrial Complex Corporation on the 25th at the Jeonbuk State government complex in Jeonju. Korea Investment & Securities also attended as a financial investor and lead financial arranger.
Under the agreement, Jeonbuk State, Gunsan and the Korea Industrial Complex Corporation will provide active support for the permits and administrative procedures required to build the data center. Korea Investment & Securities will invest in the project company and arrange project financing.
SGC Energy plans to build the data center on a modular basis on a site it has already secured. It aims to complete building permits and construction filings for a 60-megawatt AI data center by the third quarter of this year, then begin full construction in the fourth quarter. The company plans to start with 60 megawatts and expand in stages to as much as 300 megawatts.
"We expect the AI data center project to enter a full execution phase from this public-private partnership," SGC Energy Chief Executive Lee Woo-sung said. "We will push the project forward without disruption on the planned schedule, develop AI infrastructure into a new axis of future growth, and take the lead in advancing regional industry and transforming its structure."
Attendees at the signing ceremony included Jeonbuk State Governor Lee Won-taek, Gunsan Mayor Kim Jae-joon, Moon Moon-chul, head of the Korea Industrial Complex Corporation's Jeonbuk regional headquarters, the SGC Energy chief executive and Korea Investment & Securities Chief Executive Kim Sung-hwan.
