Amid the prolonged global economic uncertainty in recent years, the domestic office leasing market has undergone significant changes. The persistence of high interest rates, companies’ efforts to reduce costs, and hybrid working environment have fundamentally reshaped the traditional structure of office demand.
These changes in the economic environment have significantly influenced corporate management strategies across industries, leading companies to prioritize cost reduction and operational efficiency. Consequently, many are scaling back hiring or exploring relocation options to cut leasing costs.
Furthermore, domestic firms are now taking a more comprehensive approach when selecting office spaces, evaluating not only lease terms but also factors such as changes in net operating costs (NOC), surrounding development conditions, and evolving locational advantages. As a result, an increasing number of tenants are relocating beyond Seoul’s major office districts to other regions.
This trend reflects tenants’ strategies to enhance flexibility and control costs, signaling a new competitive landscape emerging amid shifting supply dynamics and an economic slowdown.
This report examines the current economic conditions of domestic industries and recent trends in the office leasing market and seeks to identify strategic directions for future market responses.
목차
Part1. Industry and Labor Market
Part2. Tenant Relocation Trends
Amid the prolonged global economic uncertainty in recent years, the domestic office leasing market has undergone significant changes. The persistence of high interest rates, companies’ efforts to reduce costs, and hybrid working environment have fundamentally reshaped the traditional structure of office demand.
These changes in the economic environment have significantly influenced corporate management strategies across industries, leading companies to prioritize cost reduction and operational efficiency. Consequently, many are scaling back hiring or exploring relocation options to cut leasing costs.
Furthermore, domestic firms are now taking a more comprehensive approach when selecting office spaces, evaluating not only lease terms but also factors such as changes in net operating costs (NOC), surrounding development conditions, and evolving locational advantages. As a result, an increasing number of tenants are relocating beyond Seoul’s major office districts to other regions.
This trend reflects tenants’ strategies to enhance flexibility and control costs, signaling a new competitive landscape emerging amid shifting supply dynamics and an economic slowdown.
This report examines the current economic conditions of domestic industries and recent trends in the office leasing market and seeks to identify strategic directions for future market responses.
목차
Part1. Industry and Labor Market
Part2. Tenant Relocation Trends