Koscom - the Korea Securities Computing Corporation - has begun construction on its Anyang IDC Data Center in South Korea.
The company has been planning the expansion project since 2022 and will see the company investing 140 billion won ($99.9m) in the facility, reports Chosun Biz and Bi Korea.
Located in Anyang-si, Gyeonggi-do, the site's existing data center has been operational since 2002. The expanded data center is hoped to meet the developing "digital financial environment" in South Korea.
Construction is expected to be completed by December 2026.
Yoon Chang-hyun, CEO of Koscom, said: “Koscom, which has led the Korean capital market IT for 47 years since its establishment in 1977, is embarking on a new challenge in the era of the Fourth Industrial Revolution. The new Anyang Data Center will go beyond simple facility expansion and establish itself as a cutting-edge financial data center representing the metropolitan area, further enhancing the competitiveness of the Korean capital market.”
Koscom also intends to build using an "eco-friendly" design with ESG principles in mind.
Koscom provides the IT infrastructure to Korean financial securities and futures markets and was launched by the Ministry of Finance and Korea Exchange in 1977.
According to Koscom's website, the existing Anyang center is a disaster recovery center and currently spans 13,200 sqm (142,084 sqm). The company also has an IDC in Busan, hosted within the Colt Technologies Busan data center. According to a report from InfoStockDaily, Koscom also has a data center in Yeouido which was upgraded in 2020.
Anyang is also home to an LG U+ data center dubbed Pyeoungchon 2 Center. The facility was completed in October 2023, following its announcement in June 2021. Spanning more than 12 floors, three of which are underground, the data center has a total floor area of 40,450 sqm (435,400 sq ft).
