MASTERN Investment Management Expands Cooperation on Fuel Cell Data Centers and Attracting Foreign Investment

MOUs with SK eternix and the Seoul Investment Promotion Foundation

MASTERN Investment Management has signed a series of memorandums of understanding (MOUs) with energy companies and public institutions. It is expanding the scope of its partnerships to include everything from data center (DC) development and attracting foreign investment to managing assets it owns.

On October 7, MASTERN Investment Management signed an MOU with SK eternix at its headquarters in Seocho-gu, Seoul, for a fuel cell-linked hyperscale data center project. The agreement calls for the companies to pursue what they say will be South Korea's first off-grid business model of its kind: building fuel cell power generation facilities within a data center site and directly receiving the electricity generated there through a power purchase agreement (PPA).

Park Hyeongseok, CEO of MASTERN Investment Management (right), and Kim Haejung, CEO of SK Eternix (left), pose for a commemorative photo after signing a memorandum of understanding (MOU) for a fuel cell-linked hyperscale data center project. MASTERN Investment Management Brand Strategy Team

Fuel cells are attracting attention because they can be installed on-site, shortening the time to power, and making data center development possible even at sites with limited access to electricity. Through this partnership, MASTERN Investment Management plans to diversify its data center portfolio by expanding its business beyond urban data centers to include hyperscale facilities. The two companies plan to flesh out the business model based on the MOU and assess its technical and economic feasibility.

In September, MASTERN Investment Management signed an MOU with the Seoul Investment Promotion Foundation to promote foreign investment. This was the first time the foundation had signed an agreement with a domestic asset manager specializing in real estate. Under the agreement, the partners established an ongoing channel to identify global companies interested in investing in Seoul and connect them with space in assets owned or developed by MASTERN Investment Management, as well as to cooperate on Seoul city development projects.

MASTERN Investment Management has also signed an MOU with Veolia Korea, a global environmental services company, to jointly pursue an energy-efficiency project at Pangyo Alpharium Tower.

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