Gaw Capital Partners has entered into various agreements with South Korean private equity firm IMM Investment Corp, paving the way for its entry into South Korea’s telecommunications market.
On behalf of a fund that it manages, Hong Kong-based Gaw Capital will make an investment in Dreammark and form a partnership with its parent company, Dreamline Co, to grow it is business. Financial details were undisclosed.
Dreammark owns a data centre in Guro, Seoul with a capacity of 10MW. It is also an investor in the upcoming Jukjeon Data Center project. Established in 1997, Dreamline operates a nationwide optical fibre network.
This partnership will further expand the Dreamline telecommunications business and is the first step for Gaw Capital to tap into the Korean internet data centre (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.
Kok Chye Ong, managing director – head of IDC platform, Asia (Ex-China) of Gaw Capital Partners, said the investment would be of significant strategic value to the firm’s pan-Asia IDC platform.
He spoke of the “surging demand” for data centres in Asia Pacific to support increased internet usage driven by the pandemic.
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