Woori Financial Group to finance 600 billion won Pohang AI data center

Woori Financial Group has announced its participation in providing project financing (PF) for the construction of the ‘Pohang AI Factory Data Center’ in Pohang, Gyeongsangbuk-do. The project involves a total investment of 600 billion won, consisting of 150 billion won in equity and 450 billion won in PF loans. The facility is designed to have a power capacity of 40MW and an IT load of 32MW, with a target completion date set for late 2027.

All affiliates within the Woori Financial Group are contributing to the project. Woori Bank is serving as the agent bank and co-arranger alongside KB Kookmin Bank. Woori Asset Management is handling project discovery and asset management (AMC) duties, while Woori Investment & Securities provides financial advisory services. Additionally, Woori Asset Trust is managing collateral trust and fund administration, and Woori Financial Capital is participating in the PF financing.

The project’s stability is supported by NHN Cloud, which has committed to pre-leasing 16MW of the IT load and will manage operations upon completion. Hyundai Engineering & Construction is responsible for construction and has provided a completion guarantee. The data center is expected to support high-performance GPU-based AI computing and cloud services, while aiding the digital transformation of local manufacturing in the region.