Korean coworking operator Fast Five has announced its 17th location in Seongsu-dong, Seoul will open in May as it continues to rival WeWork.
The 6,611 square meter “Seoul Forest” office will take up 11 floors of the 17-story building and be able to accommodate 2,000 members.
The new location plans to set itself apart from the other Fast Five offices by providing an incubating center for social ventures, which will have workspaces for specific companies linked to corporate social responsibility.
So far, nonprofits, state-run agencies and marketing firms have signed up for memberships for the new location.
“The 17th office of Fast Five embraces both an open and a relaxing atmosphere that represents the Seongsu area,” said Kim Dae-il, co-CEO of the company. “The company will spare no efforts to help small and medium-sized companies as well as social ventures to focus on their core business and growth.”
Fast Five also has plans to add 12 more offices in Korea by the end of 2019 just as WeWork opened its 18th location in Seolleung, Seoul last July.