GS Group Plans 2.4GW AI Data Center Campus in Donghae through 2029

According to Yonhapinfomax, GS Group announced on July 19 plans to construct a 2.4-gigawatt AI data center campus in Donghae, South Korea. The project will be rolled out in two phases: the first phase of 1.2GW is targeted for completion by 2028, with the second 1.2GW phase expected to be operational by 2029.

GS Engineering & Construction, the group's construction subsidiary, is positioned as the primary beneficiary. The company has completed over 10 data center projects, including the Epoche Anyang Center and Goyang Magna Center, giving it competitive advantages for the contract. Meanwhile, Seoul brokerage firms noted that GS Engineering's selling, general and administrative expenses expanded to 907.2 billion Korean won last year from 828.2 billion won in 2024, pressuring near-term earnings despite the long-term growth outlook from data center opportunities.