SK Hyper Kicks Off AIDC Fundraising... "463 Trillion Won Expected"

by Lee Myeonghwan

Published 23 Oct.2026 16:15(KST)

Updated 23 Oct.2026 16:16(KST)

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CEO Jeong Seokgeun: "We will appropriately manage risks in line with market demand"

SK Hyper, a subsidiary of SK Telecom specializing in business development for artificial intelligence (AI) data centers, has begun seeking more than 400 trillion won from global Big Tech companies and investors.

According to the telecommunications industry on Oct. 23, SK Hyper CEO Jeong Seokgeun said in a recent interview with Bloomberg News that the company had begun discussions with potential partners on financing options to build data center capacity of 15 gigawatts (GW) in South Korea by 2035.

SK Hyper logo. SK Hyper

CEO Jeong estimated that the initial phase alone, involving the construction of 5 GW of data center capacity, would require $350 billion (about 463 trillion won), including equipment costs. Specifically, the company plans to secure its first external funding by the end of this year or early next year, followed by additional fundraising over the next three to four years. The total construction costs will be shared with companies occupying the data centers and external investors.

SK Hyper's large-scale fundraising plan comes as market concerns about data center investment grow amid doubts about the AI industry's growth prospects. "We will manage risks appropriately in line with market demand," CEO Jeong said, adding that the company would adjust the pace of investment to match actual market demand.

Bloomberg News reported that CEO Jeong expects the company to begin generating revenue next year, before the initial data centers are scheduled for completion in 2029.

SK Telecom previously announced plans to invest up to 750 billion won in SK Hyper in stages through 2030. Starting with the Ulsan AI Data Center, SK Hyper plans to develop an AI data center (AIDC) cluster with more than 2 GW of capacity in the Yeongnam region, as well as GW-scale data centers in the Chungcheong and southwestern regions. The company aims to bring data centers online in stages starting in 2029, first reaching 5 GW of capacity and then expanding to a total of 15 GW by 2035 in response to global customer demand.