Data · Datacenter Dynamics
Naver locks in $270m loan for AI data center in Sejong, South Korea
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South Korean AI cloud company Naver has secured a 400 billion won ($270m) loan from the country's Public Growth Fund to cover the development of its AI data center in Sejong.
Key facts
- South Korean AI cloud company Naver has secured a 400 billion won ($270m) loan from the country's Public Growth Fund to cover the development of its AI data center in Sejong
- In October 2025, it was revealed that Naver would deploy some 60,000 Nvidia GPUs in partnership with LG AI Research, SK Telecom, NC AI, and Upstage
- The company secured $64.6 million in a Series A funding round in September 2025, at the time noting it was planning an AI data center in Latvia
- A total of six phases are eventually planned at the site, and Naver aims to get Phase II completed in 2028 and Phase III in 2029
Summary
Elsewhere, another AI cloud - Verda - has secured $117m in a funding round. Naver's loan has been approved by the South Korean Financial Services Commission (FSC) and will fund the expansion of its data center in Sejong city, dubbed Gak Sejong, as reported by Chosun Biz. Plans to expand the campus emerged in November 2025, with the company revealing it would develop both the second and third phases simultaneously. Gak Sejong spans five floors, three below ground and two above ground.