ECS 153 Co-working space Seoul

With the recent news about Coworking Space giant WeWork’s job cuts, everyone is wondering how the coworking space market will react.   WeWork has recently suffered from its delayed IPO and news about job cuts has put the company in financial turmoil. Many smaller coworking companies have seen this as an opportunity to help fill the potential void left behind by WeWork’s downsizing. Smaller companies are not looking to expand as big as the coworking giant, but rather they are focused on sustainable growth. They want their tenants to ne long-term partners in their space and not focus on a venture-funded business model which could lead to huge profit losses. Many of these large coworking space companies overcharge their tenants and grant limited access to resources in order to cut costs which still maintaining a high margin, this in turns gives customers a high rent and lower quality of services. Smaller coworking spaces are focus on giving higher qu...

1.       There are nearly 19,000 coworking spaces worldwide in 2019 . It’s expected to reach almost 26,000 by 2025. Coworking is becoming a big trend globally and many individuals are choosing to work in a collaborative and open space that allows for interaction among members. 2.       There are more than 30,000 flexible work spaces globally in 2019. Flexible workspaces are becoming more popular with both freelancers and enterprise companies. Their numbers are expected to double from the current, 26,000 to about 52,000 by 2022. This is mainly due to the new influx of coworking spaces popping up around the globe. 3.       Freelancers are still the largest coworking demographic in the coworking world. About 41% of coworking spaces are populated by freelancers. Corporate offices are not far behind at 36%, and this number is expected to grow because enterprises are looking for...

Hangul Day is a national holiday in Korea to celebrate the Korean alphabet. This day is known as 한글날 or han-gul-nal in Korean, and is also known as ‘Korean Language Day’. Hangul Day in celebrated on October 9th is South Korea, and on January 15th north of the DMZ. This marks a proud achievement for the Korean peninsula and serves as a reminder of the modernization of the country. History of Hangul The Korean alphabet is different from a majority of the world’s language systems, rather than evolving over time like most languages do naturally, it was deliberately made by King Sejong and his fellows. Back during the fifteenth century, Koreans used Chinese characters to write. These Chinese characters are known as ‘Hanja’, and are still used from time to time, usually on calendars. In 1443, King Sejong decided that it would best for Korea to have its own language system and assembled a team to achieve his goal. Within a year, by 1444, the new Korean alphabet system, ...

Seoul city’s government have pushed an initiative to train up to 10,000 workers to fight against the ever-growing unemployment issue in South Korea, mainly through start-ups. It The fourth-industrial revolution is approaching quickly, and the Seoul Government believes that training for this revolution will help reduce the unemployment issues, particularly in youth. An Innovation Academy will need opened in November of this year to help prepare approximately 2,000 young professionals to be leaders and face the fourth industrial revolution head on. Another 8,000 workers will be employed by the Seoul Start-up Support Centre. The city plans to double the number of spaces for tech startup by 2022, from 1000 to 2000. Any entrepreneur can john the Seoul Start-up Membership and get the support they need to set up their business in South Korea.  Most importantly, the Seoul city government has made a big effort to make it easier for young foreigner entrepreneurs to get a ...

National Foundation Day, October 3rd 2019 Also known as Gaecheonjeol, (“Opening Sky Day” or “Festival of the Opening of Heaven”), National Foundation Day is Korea’s national holiday celebrating the foundation myth of the ancient Korean kingdom of Gojoseon. This national holiday hold an integral part of the Korean national identity. Ancient Roots Although traditions have evolved over time, the celeration of the “Festival of the Opening of Heaven” has very deep roots throughout Korea. In the past, this holiday was celebrated with a traditional harvest festival in which families would honoured their ancestors, gave thanks for a good harvest. The celebration of National Foundation Day were usually held on the 3 rd day of the 10 th month on the lunar calendar. Modern Celebrations One of the most prominent ways National Foundation Day is celebrated in modern times is with a ceremony at the Chamseongdan altar in Dangun Wanggeom’s honour. Chamseongdan is loca...