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  • SMG Signs MOU with WeWork

  • Economy & Investment News SMG 3821

    The Seoul Metropolitan Government (SMG) will cooperate with WeWork, a global sharing company with 10,000 member companies, to provide space, community, and a service platform to entrepreneurs preparing for business, and actively support the overseas expansion of Korean companies.

    Mayor Park Won-soon met Miguel McKelvey, the co-founder of the global sharing company WeWork, and signed the MOU on July 27, 2016 to reinforce the friendly cooperation for revitalizing the innovation and creative economy of Seoul. The SMG is set to begin promoting startups and creating global business opportunities.

    WeWork, the world’s largest office-sharing service, has more than 100 branches in 30 different cities of the world, and nearly 10,000 companies are members of WeWork. Its core business is providing business networking between companies and building communities. The company has been rapidly expanding since it was first established in New York in 2010, and it was selected as the most innovative company in 2015 by Fast Company Magazine.

    Following the signing of the MOU, the first office of WeWork in Korea will open near Gangnam Station on August 1 (Monday).

    Miguel McKelvey, the co-founder of WeWork, said “Seoul is a city that has long played the role of a hub for global enterprises, where many creative talents, entrepreneurs, and startups have gathered.” He added, “WeWork will actively support the global expansion of Korean companies by establishing network between multinational companies, major companies, small and medium-sized businesses that have moved into the Gangnam Station branch, and other members of the 100 branches worldwide.”

    The SMG is hoping that the space and startup support program provided by WeWork will be a driving force for the effective overseas expansion of local startups.