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
Chloe Kwon • 27/09/2024
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Research • Economy
2025 Korea CRE Market Outlook Report
The office sector demonstrated strong performance, supported by stable rents and yields, while the logistics sector continued to see transactions involving prime centers and NPLs, despite ongoing oversupply challenges.
Suki Kim • 18/12/2024
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 • 22/08/2024
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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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