WeWork signs deal to open office in Busan next year
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WeWork, a global shared work space provider, said Tuesday it has signed an agreement with Busan to make inroads into the country’s second-largest city next year. The company signed a memorandum of understanding (MOU) with the southeastern port city on Monday with a plan to open its first Busan branch in the Seomyeon area by the first half of next year, it said.
WeWork said more locations, including in Centum City and Busan Station, will be launched down the road.
“WeWork will contribute to creating jobs and global business opportunities as well as revitalizing the startup ecosystem in Busan,” Matthew Shampine, General Manager of WeWork Korea, said.
Established in New York City in 2010, WeWork currently has over 300 offices in 23 countries, including 10 in Seoul. The first Korean WeWork office opened in 2016.
Questions & Answers
Q.Which specific area of Busan will WeWork's first branch open in?
Which specific area of Busan will WeWork's first branch open in?
WeWork plans to open its initial Busan branch in the Seomyeon area. Additional locations are expected later in Centum City and near Busan Station, expanding its presence in the city.
Q.What is the expected timeframe for the first WeWork Busan office to open?
What is the expected timeframe for the first WeWork Busan office to open?
The first WeWork office in Busan is scheduled to open by the first half of next year. The company signed a memorandum of understanding on Monday to facilitate this expansion into the city.
Q.How many WeWork offices are currently operating in South Korea?
How many WeWork offices are currently operating in South Korea?
WeWork currently operates 10 offices in South Korea, all located in Seoul. The first WeWork office in the country opened in 2016, preceding the planned expansion into Busan.
Q.What benefits does WeWork expect to bring to Busan?
What benefits does WeWork expect to bring to Busan?
WeWork anticipates contributing to job creation and generating global business opportunities in Busan. The company also aims to help revitalise the startup ecosystem within the southeastern port city.
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