JustCo's successful entry into Korea
JLL fully assisted JustCo's first landing in Korean market and supported with the center expansive openings.
Co-Working Space (Office)
JustCo, one of the fast growing co-working service providers, was planning for the successful entry into the Korean market. JustCo required a concrete study on Korean office and co-working market situation, as well as specific information on each property to competitively open its centers.
By grasping customer needs, JLL continuously provided market updates on the office market and on the overall domestic co-working market that has already been strengthened. Based on a deep understanding of the districts and buildings preferred by the co-working space operators, JLL identified and suggested the most attractive locations and competitive prices for each region, and successfully contributed to the opening of the very FIRST center in Ferrum Tower.
JLL worked as a Tenant represntor and as a Landlord management agency and with deep understanding of the project, JLL led a successful contract that satisfied both JustCo and the building landlord. JLL's largest global tenant pool in Korea was utilized to execute contracts with a number of foreign tenants. Since then, the Ferrum Tower Center has shown a stable occupancy rate and has established itself as a cornerstone of JustCo's management in Korea.
In recognition of JLL's contribution to successful entry into the Korean market, JLL had, again, another opportunity to provide one-stop consulting services when JustCo expanded its center in CBD area. JLL recognized that the Concordian (formerly Kumho Asiana Headquarters) located near Gwanghwamun Station is the most suitable expandable option in CBD, and convinced JustCo that it is a center that can attract many customers while maintaining price competitiveness. Consequently, JLL led to the third center opening of JustCo's Center in CBD area. Concordian Center has also established itself as a center that generates stable profits with a current occupancy rate of over 90%.