Seoul Data Center Occupancy Falls Below 5%, Server Rental Prices Surge 78% Since 2019

According to CBRE Korea's data center investment report released on July 13, Seoul's data center occupancy rates have fallen below 5% as artificial intelligence demand drives supply scarcity. Server space rental prices surged to 250,000 KRW per kilowatt in 2025, up 78% from 140,000 KRW per kilowatt in 2019.

The supply bottleneck stems from power grid constraints. As of March, only 10 out of 522 power impact assessment applications were ultimately approved, creating a scarcity premium for facilities with secured power and location. The report projects Seoul will gain over 1,450 megawatts of data center capacity by 2028, but only in areas where power security is assured.