FastFive "Leap to Business Platform"

170 Billion Investment in Adult Education Startup Fast Campus

[Asia Economy Reporter Kim Cheol-hyun] Shared office company FastFive has revealed its vision to leap forward as a corporate business platform by acquiring domestic adult education startup Fast Campus. It is expected to create synergy in various ways, including providing differentiated educational services to shared office tenants.

FastFive (CEO Kim Dae-il) held a press conference on the 30th at FastFive Yeouido branch and announced that it recently invested 17 billion KRW in Fast Campus, becoming its largest single shareholder. Fast Campus is an adult education platform that has recorded an average annual sales growth of 190% over the past five years and is an education subsidiary of Fast Track Asia, the parent company of FastFive. This year, it surpassed an average monthly sales of 3 billion KRW and continued its growth by turning a profit in the first quarter.

FastFive plans to leap forward as a corporate business platform through active collaboration with Fast Campus. It is considering ways to strengthen educational service benefits for tenant members and link recruitment services to Fast Campus customers. FastFive tenant members will be able to receive services such as employee training, headhunting, and other employee welfare benefits. FastFive spaces will be used as Fast Campus training centers.

Park Ji-woong, Chairman of the FastFive Board of Directors (left), and Kim Dae-il, CEO of FastFive, are answering questions at the 'FastFive 2.0 - From Real Estate to Platform' press conference held on the 30th at FastFive Yeouido branch.

At the conference, FastFive also revealed its growth plans for the office business division. Established in 2015, FastFive recorded an average annual sales growth of 157%, achieving sales of 42.5 billion KRW last year, more than double the previous year. With the recent opening of the Yeouido branch, it now has 25 branches nationwide and plans to increase the number of branches to 80 by 2023. This will increase the number of FastFive members from the current 17,000 to 30,000, and the exclusive area from 69,000㎡ to 264,000㎡.

The company also presented a strategy to position consulting-based new businesses as another growth engine. Representative new business items include 'Office Solutions,' which builds customized office environments reflecting the needs of large clients, and 'Building Solutions,' which provides building consignment management services targeting small building owners.

Kim Dae-il, CEO of FastFive, stated, "We plan to create synergy by organically combining the educational content and corporate clients of adult education startup Fast Campus with FastFive's office business. We will promote quantitative expansion of new businesses such as Office Solutions and Building Solutions and evolve into FastFive 2.0 by expanding into platform services that can meet the needs of corporate clients in housing, recruitment, beauty, and food and beverage."

This content was produced with the assistance of AI translation services.