ACROFAN

Fast Five 2nd Anniversary Media Day

Published : Friday, April 21, 2017, 12:58 am
ACROFAN=Hyung-Keun Kim | hyungkeun.kim@acrofan.com | SNS
On the afternoon of the April 20th, Fast Five 2nd Anniversary Media Day was held at Fast Five Samsung store in Gangnam-gu, Seoul.

The media day was prepared to present Fast Five's achievements and future plans, and was attended by officials, including Fast Five co-representatives Park Ji-ung and Kim Dae-il.

Fast Five co-representatives Park Ji-ung said, "Fast Five has tried to become the same brand as Starbucks of sharing office services, and many companies are acknowledging and working with us." And, "Since we are preparing for presenting more advanced services and new ideas, we hope to get a lot of attention and support."

 
▲ Fast Five 2nd anniversary media day was held.

 
▲ Park Ji-ung said, "Fast Five will present more advanced services and new ideas."

According to the announcement, Fast Five opened its first store near Nambu Terminal in Seocho-dong in April 2015, after the incorporation in February 2015. By the end of last year, it has been continued expansion by opening the second and third stores near Yeoksam Station in Yeoksam-dong, the fourth store near Seoul Nat'l Univ. of Education Station in Seocho-dong, the fifth store at Nonhyeon Station in Banpo-dong, and the sixth store at City Airport Tower in Samsung-dong.

In particular, it has enjoyed high popularity such as achieving occupancy rate of 100% from the first to the sixth store, and the number of members using Fast Five now exceeded 1,200.

As the office lease market has entered a low growth period, Fast Five has focused on the growth patterns of companies that have strengths in rental management, finance, and development companies. In keeping with the emergence of individual or small-scale creators as a result of software development, it tried to provide a suitable creation space to the creators. Especially, as well as organizing 'branding' the office space, it not only provides simply a hardware space, but also strengthened efficiency by adding convenience service and affiliate services.

Looking at the current status of the companies that have moved into Fast Five, the industrial groups are relatively well distributed in tech, design, marketing, media, and online commerce, and 20s and 30s account for 71%. The companies with more than 10 people account for 40%, but the companies with 1 to 4 people run to 32%.

Meanwhile, Fast Five received total 3 billion won in March 2016, and laid the groundwork for a new challenge by bringing in 12 billion won in April 2017. In the future, Fast Five will open up to 13th store centering on subway adjacent areas in the Gangnam area in 2017, and plan to introduce 6 new stores throughout Seoul in 2018.

In addition, as a new business, it is also preparing housing services for single households in 20s and 30s based on the service know-how of Fast Five. This service provides a common space such as a lounge, bar, and athletic facility along with experience as a residential service space with a brand, and sets establishment of a community through small groups by various events and interests as a main concept.

Besides, it will make a partnership with real estate property management companies and real estate developers, and try projects that can acquire asset value as well as profit. It also announced its plan to expand the business model to marketing platform business based on rapidly growing member size.

Fast Five co-representatives Kim Dae-il said, "I am very pleased to be able to get a good response to Fast Five from many of the investment organizations I met during the recent investment." And, "I will strive to maintain the top position in the industry by raising Fast Five to five times its present size by the end of this year."

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