Global law firm White & Case LLP has advised lender Sumitomo Mitsui Banking Corporation (SMBC) on the project financing for the Digital Seoul 1 (ICN10) data center project located in the Sangam Digital Media City in Seoul, South Korea.
White & Case partner Tim Fourteau, who led the Firm's deal team, said: "As one of the first data center project financings in the country, SMBC, Digital Realty and PIA, as asset manager, have truly led the way in establishing a new form of financing for such infrastructure in South Korea, a growing digitech hub in Asia-Pacific."
Scheduled to be commissioned over the next few months, the ICN10 data center project is designed to accommodate 12MW of information technology load and will be the first carrier-neutral facility in South Korea, developed by Digital Realty and managed by PIA.
The White & Case team which advised on the transaction was led by partner Tim Fourteau (Singapore), with support from associates Maria Adalia (London), Shafinas Djuanda and Yun Yong (both Singapore).
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