Lotte Innovate’s contract to operate IGIS Asset Management’s 40 MW Ansan data center has prompted Hanwha Investment & Securities to raise its target price to 30,000 won and increase its operating-profit forecasts for this year and next year by 5% and 7%, respectively. The project is the companies’ second collaboration, following a February DBO contract for an edge data center; the earlier account put that facility at 9.9 MW, while the latest report describes it as 10 MW. Lotte Innovate is using roughly 20 years of experience operating four data centers in Seoul, Yongin and Daejeon to reduce reliance on group affiliates and expand its external customer base. Hanwha forecasts operating profit will rise 44% year over year to 45.2 billion won this year and 52.1 billion won next year, helped by a greater contribution from data centers and AI-related businesses. The company plans to expand from edge facilities into AI and hyperscale data centers, connect equipment procurement with DBO and operations, and develop high-efficiency HVAC and cooling technologies for denser AI infrastructure. It is also pursuing EV charging, physical AI and robot-as-a-service businesses.