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WeWork Announces the 20th Location ‘WeWork BIFC’ at the opening ceremony of WeWork Seomyeon with Busan Metropolitan City

On April 9, WeWork held the opening ceremony for WeWork Seomyeon the 1st location in Busan with Mayor Keo-don Oh and city officials
At the ceremony, WeWork announced its plan to open WeWork BIFC in Q3 2019, the 20th location announced in Korea and the 2nd location to-be in Busan
WeWork promises to strengthen its community continuously in Busan, contributing to local job creation and providing global business opportunities to local companies

News provided by WeWork
April 11, 2019 15:22 KST

SEOUL, SOUTH KOREA--(Korea Newswire) April 11, 2019 -- WeWork held an official opening ceremony with Keo-don Oh, Mayor of Busan Metropolitan City and key city officials, celebrating its first location in Busan ‘WeWork Seomyeon.’ There, the company also announced its official plan to open ‘WeWork BIFC’ in the third quarter of this year.

At the ceremony, the mayor thanked for the reciprocal partnership and congratulated WeWork for its official beginning in Busan. He then toured WeWork Seomyeon along with key city officials and members of the special committee for promoting sharing economy in Busan.

Matthew Shampine, General Manager, WeWork Korea, expressed WeWork’s sincere appreciation to Mayor Oh and the city of Busan for their visit to the first location in Busan. “We will also continue to hire local talents and create high quality jobs as confirmed in our memorandum of understanding in November 2018, while fostering entrepreneurial and innovative spirit among the startup and business communities here in Busan through WeWork and our global community,” said Shampine at the ceremony, emphasizing WeWork’s dedication for the city.

At the event, WeWork also officially announced the opening of ‘WeWork BIFC’ - the second location in Busan - in Q3 2019, expressing the company’s continuous growth and dedication for the city. WeWork BIFC, the 20th WeWork location announced here in Korea, is the company’s second location in Busan. WeWork BIFC will be located in BIFC2 building, a 49-story complex, part of the 2nd stage complex development of the Busan International Finance Center (BIFC2), accommodating over 700 members. Also, it is the first deal signed based on a revenue-sharing agreement here in Korea, also known as a participating lease.

Recently completed in November 2018, BIFC2 is located in Munhyeon-dong, Nam-gu, Busan's financial center, providing a convenient business environment for members. WeWork BIFC boasts great accessibility, being directly connected to Busan International Finance Center·Busan Bank Station (Busan Subway Line 2) and several bus stops located within a minute’s walk. Furthermore, Busan International Finance Center is a landmark of the financial hub in Busan, leading the revitalization of finance in Northeast Asia. The Busan International Finance Complex consists office towers, hotels, a large mall and a musical theater which recently opened in April. Located in the main business district of the city, WeWork BIFC is expected to provide members a wholesome business and travel experience when visiting Busan.

With WeWork BIFC, the company will grow to a community of 26,000 members in Korea, strengthening its role as a global leader in providing collaborative workspaces. Specifically, with the opening of WeWork BIFC, WeWork expects to create a stronger synergy within the WeWork community in Busan and across Korea. Through the expanded member network, WeWork is expected to provide a more robust community for all WeWork members. The members of WeWork BIFC will have access to over 425 WeWork locations in more than 100 cities and 27 countries, including Seoul. They will also be able to leverage WeWork’s global community of over 400,000 members to pursue networking and new business opportunities at a global scale.

“We are very excited to announce the opening of the WeWork BIFC in Busan International Financial Center, the financial hub of Busan, following the opening of WeWork Seomyeon,” said Matthew Shampine, General Manager, Korea at WeWork. “We will move forward together as a true partner of Busan city, by actively contributing to the revitalization of the local community in Busan through the creation of jobs, global business opportunities and a prosperous startup ecosystem,” he added.

Meanwhile in November 2018, WeWork and Busan Metropolitan Government signed an MOU to revitalize Busan's startup ecosystem and create quality jobs and global business opportunities. WeWork announced that it will continue to provide various programs to expand the use of its global network and partnership opportunities in Busan, as part of its collaboration with the city.

About WeWork

WeWork is a platform for creators, providing over 400,000 members around the world with space, community, and services through both physical and virtual offerings. WeWork currently has 425 physical locations in 100 cities and 27 countries around the world. Founded in 2010 by Adam Neumann and Miguel McKelvey in New York, the company now employs more than 9,000 globally. WeWork seeks ‘creators’ from all industries and companies big and small to become members, with a suite of WeWork-specific membership benefits in each country and a local staff in each city. More than 45,000 companies and more than 400,000 members are now based at a WeWork, with member companies ranging from start-ups to household names including Dell, KPMG, GE, Microsoft, and Samsung. More than 70% of WeWork’s members collaborate with each other and its international locations serve as convenient bases for business travel, enabling a great degree of work flexibility for both multinationals and small-to-medium-sized businesses alike, as well as options for easy expansion into new markets. For more information, visit wework.com

Contact

For WeWork
KPR
Angela Choi
+82 2-3406-2282
angela@kpr.co.kr

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