Equinix, the global interconnection and data centre company, has announced the expansion of its global footprint to South Korea with its new International Business Exchange (IBX) data centre in Seoul. This carrier-neutral data center—called SL1—will provide interconnection and colocation services to businesses in support of their digital transformation initiatives and adoption of cloud. The new SL1 IBX data centre will provide more than 18,000 square feet (approximately 1,680 square meters) of colocation space, offering an initial capacity of 550 cabinets in the first phase, and is scheduled to open in Q3 2019.
South Korea is one of the top 15 largest economies in the world and one of the most vibrant digital economies globally—with high bandwidth and advanced applications driving many of its industries. It also ranks second globally for its focus on Information and Communication Technologies (ICT), making it a key market for many of today’s global enterprises. It has a high broadband penetration rate, with numerous internet service providers (ISP) that require carrier-neutral data centres for their interconnection needs. By entering this new market, Equinix will help our global customers expand into South Korea, while helping local companies across the enterprise, service provider, cloud and content spaces accelerate their digital transformation initiatives via Platform Equinix.
The expansion into South Korea coincides with the impending nationwide launch of 5G networks in March 2019. The introduction of 5G will usher in a new era of next-generation services and breakthroughs in industries such as Internet of Things (IoT) and Artificial Intelligence (AI) that will require data transactions at higher speeds and volumes, with lower latencies. With data expected to continue to grow exponentially, the need for data centers that are able to meet the demands of businesses through colocation or interconnection services will be further amplified.
The new addition to Platform Equinix will be located at Sangam, known as Digital Media City, near Seoul’s central business district, and offer an initial capacity of 550 cabinets. According to the second volume of the Global Interconnection Index, a market study published by Equinix, Interconnection Bandwidth capacity in Asia-Pacific—a measurement of direct and private data exchange between businesses—is expected to grow at a 51% compound annual growth rate (CAGR) from 2017 to 2021, contributing more than 27% of Interconnection Bandwidth globally.
Kei Furuta, Managing Director, Equinix North Asia, commented: “As one of the most innovative and technologically advanced countries in the world, South Korea is forging ahead in the Fourth Industrial Revolution. The rapid digital transformation taking place across businesses and industries will soon be underpinned by next-generation technologies such as 5G and AI, that require data centers that are flexible and agile to keep up. We look forward to working with Samsung SDS, a competitive cloud service provider with a strong foothold in this market, to play a key role in supporting South Korea in sustaining its technology and industrial leadership on the global stage.”