NeoAI Cloud secures full 600 billion won for phase 1 of Pohang AI data center and begins main construction (report)

What happened

AI infrastructure company NeoAI Cloud (네오에이아이클라우드) has raised the full 600 billion won for its AI-dedicated data center project in Pohang, North Gyeongsang Province. The funding consists of 450 billion won in project financing (PF) loans and 150 billion won in equity. With the PF loan agreement signed on October 7, the company secured the total project cost for phase 1. The company said it has begun main construction and project execution.

Why it matters

This is a case of a large AI data center outside the Seoul metropolitan area completing PF funding and starting actual construction. It shows that AI infrastructure investment in Korea is moving beyond the planning stage into execution.

Sources

• Press 네오에이아이클라우드, 포항 AI 데이터센터 6,000억원 규모 자금조달 완료 Electronic Times (Korea)