KKR has invested about US$3 billion in South Korea this year and expects more deals as AI drives demand for data centers and power.

The US buyout firm also sees opportunities as more Korean conglomerates invite outside investors.

Its investments include a 1.2 trillion won (US$880 million) investment in convertible bonds issued by Samsung SDS, Samsung Group’s IT services unit, along with an agreement to work on mergers and acquisitions, capital allocation, and expanding the company’s AI business.

KKR also worked with local funds to invest a combined 3.1 trillion won (US$2.22 billion) in SK Telecom’s data-center business.

Private equity investment in South Korea reached about US$37 billion by early September, close to the 2021 annual record of US$41.4 billion, according to data provider Preqin.

Other firms, including Blackstone, Carlyle, and TPG, have also struck deals in the market.

🔗 Source: Bloomberg

Recent KKR developments