KKR and a consortium led by South Korean investment firms IMM Investment and Stonebridge Capital have agreed to invest a combined 3.08 trillion won ($2.1 billion) in SK Telecom’s newly formed AI data centre infrastructure company, SK Horizon.
The investment will be made as SK Telecom spins off the data centre and submarine cable businesses of its wholly owned subsidiary SK Broadband into SK Horizon. Upon completion of the planned investment, KKR will hold a 29% stake, IMM and Stonebridge will own 20%, while SK Telecom will retain a 51% controlling interest.
SK Horizon will operate and expand SK Telecom’s AI data centre infrastructure, targetting a total capacity of 318 megawatts across eight existing facilities and new sites under construction in Ulsan and Guro. The company will also pursue an expansion of submarine cable infrastructure supporting global AI businesses.
KKR is making the investment primarily through its Asia Pacific infrastructure strategy. The deal adds to the firm’s growing exposure to digital infrastructure as demand for data centre capacity accelerates with the expansion of artificial intelligence.
Separately, SK Telecom will oversee the group’s broader AI data centre strategy, while SK Hyper, established in July, will focus on developing new large-scale projects. SK Hyper is targeting 5 gigawatts of capacity by 2029 and 15 gigawatts by 2035.
“SK Horizon brings together an established operating platform, capacity under development and a strong strategic partner. Korea’s advanced digital ecosystem and growing demand for AI capacity provide a strong foundation for SK Horizon’s next phase of growth,” said Keith Kim, Partner at KKR.
“AI data centres and submarine cables will be among the core infrastructure assets shaping Korea’s digital sovereignty and industrial competitiveness going forward,” said Kim Byung-hun, Head of Infrastructure at IMM Investment.
The spin-off and investment are expected to be completed in the first quarter of 2027, subject to shareholder and government approvals.
