South Korean AI cloud company Naver secured a 400 billion won ($270 million) loan from the country's Public Growth Fund to fund the expansion of its AI data center in Sejong, dubbed Gak Sejong. The financing, approved by the South Korean Financial Services Commission (FSC), will support the simultaneous development of the second and third phases of the campus, which spans 290,000 sqm (3.1 million sq ft) and is planned to reach 270MW of capacity. Naver aims to host 600,000 servers across six planned phases, with Phase II targeted for completion in 2028 and Phase III in 2029. The FSC stated the funding aims to help domestic corporations reduce dependence on global big tech in AI model development by strengthening local AI infrastructure. The data center is designed to withstand an earthquake magnitude of 7.0 and will house Naver's cloud services, including a recently completed cluster of 4,000 Nvidia B200 GPUs.