Seoul
The capital of South Korea, Seoul is one of the world’s most visited cities and considered as a leading and rising global city. It is ranked in the top 10 in the Global Financial Centres Index and is regarded as one of the world’s leading technology hubs. It has an impressive infrastructure including the clean and technologically-advanced Seoul Metropolitan Subway for convenient travel around the city and KTX high-speed trains that connect Seoul to other major Korean cities.
Incheon International Airport, often rated as one of the very best in the world, provides access to international travel. The city also hosts various global conferences giving it major influence over global affairs while it is also home to five UNESCO World Heritage Sites: Changdeok Palace, Hwaseong Fortress, Jongmyo Shrine, Namhansanseong and the Royal Tombs of the Joseon Dynasty.
The location
Surrounded by mountains and intersected by the Han River, Seoul is located in the northwest of South Korea and is divided into 25 gu (districts).
The city is well-known for the density of its population which is almost double that of New York.
Neighbouring areas - price comparisons, per person per month
The prices given below are the minimum to maximum average cost for serviced offices, per person per month, derived from our Sales Team's knowledge.
Area - Indicative price range
Seoul KRW700,000 - 1,000,000
Shanghai KRW450,000 - 1,000,000
Hong Kong KRW500,000 - 1,800,000
Singapore KRW500,000 - 1,250,000
Beijing KRW700,000 - 1,400,00
Tokyo KRW550,000 - 1,000,000
Looking for an office in Seoul
While serviced office space is at a premium in Seoul, Instant Office's specialist local consultant Betty Chen recommends the Gangnam Business District, an area that continues to emerge as the new hub for a wide range of industries in Seoul.
Costs
Prices in Seoul for serviced office space are approximately KRW 700,000-1,000,000 per person, per month. When looking for serviced offices keep in mind that these costs usually cover a variety of amenities and as such can offer great value for money and lower outgoings.
Office sizes
While coworking has really kicked off in other Asian locations such as Hong Kong and Singapore, Seoul has been relatively slow on the uptake, still favouring more traditional office space. However, the modern city is definitely seeing a rise in coworking that looks set to continue. Instant are able to accommodate most enquiries, from one person through to 100 or more depending on the specifics.
Five things you probably didn't know about Seoul:
1. The number ‘4’ is considered very unlucky in South Korea, to the point that many buildings will not have a 4th floor
2. The world’s first cloned dog was created at the Seoul National University
3. The taxis in the city are colour coded; a grey or white one will be a basic car whereas the black taxis are more luxurious with a more experienced driver
4. The political tensions with North Korea mean that South Korea is fundamentally an island; everything comes in and out of South Korea by plane or boat
5. Seoul hosted matches in the 2002 FIFA World Cup as well as hosting the Summer Olympics in 1988; one of only a handful of cities to have done so
Why choose Seoul?
Seoul is a very safe and modern well-developed city that provides the world’s fastest Internet connections with speeds up to 1 Gbps, ideal for companies in the technology industry. The city also provides free Wi-Fi access in outdoor spaces further enhancing its claim as a tech leader.
Its quality infrastructure makes it a city that is easy and pleasant to navigate. It is also home to the majority of top universities in the country and offer good talent pool, if you can prise them away from the major domestic conglomerates.
A closer look at Seoul
The most popular areas in which to rent office space in Seoul are:
Seoul CBD (Central District)
• Most prominent business district in Seoul and home to approximately 40% - 45% of all prime office buildings
• Within walking distance of Gyeongbok Palace, and Myeongdong, one of the best shopping area in the city
• Popular with companies from a diverse range of industries including legal services, government agencies, finance, media and technology
• Home to major companies including Doosan Corporation, Daewoo International, Lotte Shopping, Korean Exchange Bank and Hana Financial Group
Gangnam Business District
• Established as a hub for education, shopping and business
• High standard of living and concentrated wealth
• Popular with pharmaceutical, media & entertainment, manufacturing and IT as well as luxury goods and companies involved in the fashion industry
• Many of the Samsung Group’s headquarters are located in Samsung Town, a major park in Seocho District that borders the Gangnam Business District
Yeouido Business District
• Regional financial hub and home to the International Financial Center
• Also contains the National Assembly Building, Munhwa Broadcasting Corporation (MBC) and the Hanhwa 63 City building, the tallest gold-glad building in the world
• Home to Yeouido Park, one of the prettiest parks in Seoul that includes an ecological forest, various sports facilities, pavilions and ponds
• LG Electronics have their headquarters here, based in the LG Twin Towers, as do Hanjin Shipping, Korea Life Insurance and Mirae Asset Group
Want to find out more? If you’re looking to move into the area, or simply require more information, contact Instant Offices' specialist local consultants.
Email our team or call us and we'll be delighted to help you.