South Korea intends to leapfrog its competitors for the data center business, with its renewable energy project

South Korea government intended to grow their data industry and positioned it as one of the growth engines to develop its future economy. South Korea believed that their advantages lie in their ultra-high-speed internet and stable electricity supply.

The country’s top officials would be studying closely the construction of a new hydrothermal energy supply facility in Chuncheon City, Gangwon Province, which would be able to harvest kinetic energy from the water of Soyang River, thereby generating electricity with low carbon emissions. The Soyang River Dam is the largest sand gravel dam in East Asia.

With this, the facility would be able to generate hydrothermal energy of around 16,000RT per year. The local government, Gangwon-do, Chuncheon City, and the Korea Water Resources Corporation (K-water) will jointly invest in this project. The project team intended to deliver this project by 2027.

The South Korea government would distill critical learning points from this project for the development of future similar projects in the Gangwon cluster.

The Gangwon cluster would be designated for building a hydrothermal energy cluster comprising a cloud business platform complex, a hydrothermal energy-based smart cutting-edge agricultural complex, and a complex specialising in hydrothermal energy-based water industry by tapping into the cold water (hydrothermal energy) of Soyang Dam.

South Korean government hoped that this investment would be able to attract more eco-friendly data centers and IT businesses into the country, and to create new jobs that are in line with the 4th Industrial Revolution.

They targeted to attract six data centres and more than 250 data-related companies to set up business in this area and intended to attract other types of businesses such as smart farms and research parks.

The Gangwon cluster team would organise an event on Friday, 22 April, for companies to demonstrate their hydrothermal energy projects. Selected companies may be eligible for financial support for some parts of their projects.