October 30, 2024

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Singapore-based premium coworking space provider JustCo on Aug. 6 announced plans to open its fourth location in South Korea in the affluent Gangnam district, Seoul, by November 2019.

A promotional image for JustCo Tower's tiered seating open space for townhall events. JustCo

The 16-story building with 13,000 square-meter floor space, dubbed JustCo Tower, is the first location where it is leasing the whole building space to tenants.

The new coworking space features facilities and amenities such as a multipurpose rooftop lounge, private suites, hot-desking areas, an in-house cafe and event spaces. Some 60 percent of the space is preleased, according to JustCo.

The building was formerly known as Ryan Tower. Singapore-based multinational investors such as GIC and Frasers Property have equity stakes in the building.

Entering Korea in 2018, JustCo currently operates three locations in Seoul: Ferrum Tower, Seoul Finance Center and the Pinnacle Gangnam.

“JustCo’s rapid expansion in Korea speaks volumes of the market potential in coworking space,” Kong Wan Sing, Founder and CEO of JustCo, said in a statement.

Founded in 2011, JustCo operates coworking spaces in major cities across Asia, including Singapore, Bangkok, Jakarta, Melbourne, Sydney, Taipei, Shanghai and Seoul.

By Son Ji-hyoung (consnow@heraldcorp.com)