Real estate private equity firm Gaw Capital Partners, through a fund under its management, has entered into various agreements with South Korean private equity firm IMM Investment to invest in internet data centre (IDC) operator Dreammark1 and form a mutual strategic partnership to grow its parent information communication technology (ICT) firm Dreamline.

This partnership will expand Dreamline’s telecommunications business and is the first step for Gaw Capital to tap into the South Korea IDC market. Gaw Capital will continue to seek additional opportunities in South Korea, where IDC demand has been growing due to the government’s policy of moving into cloud computing. 

Dreamline, which has 20 years of experience in the ICT field, operates a nationwide optical fibre network providing high-speed leased lines to enterprise and hyperscale customers as well as data centre services via its subsidiary Dreammark1.

Based in Seoul, Dreammark1 owns a data centre with a capacity of over 1,200 racks and a power supply of 10 megawatts that is independent from the country’s major carrier providers. The operator is also an investor in the upcoming Jukjeon Data Centre project, located close to the Pangyo Techno Valley tech hub.

“The surging demand for data centres in Asia-Pacific continues to grow due to increased internet usage driven by the pandemic, and we are committed to the principles of sustainable development of such centres through the application of environmental, social and governance initiatives, such as appropriate construction waste management and renewable power sources exploration, that will further enhance our competitiveness in the data centre sector,” says Kok Chye Ong, managing director and head of IDC platform, Asia (ex-China) at Gaw Capital. “Gaw Capital will continue to look for new investment opportunities and partnerships in South Korea.”

The company’s global platform includes data centres located in China, Indonesia, Japan and now in South Korea.