Song Insang, Executive Director of R-Square, "Expanding Beyond Vietnam and Singapore to Enter Indonesia Next Year"

Song In-sang, Head of Business Strategy Division at RSquare

[Asia Economy Reporter Minyoung Kim] "Following Vietnam and Singapore, we plan to enter the Indonesian commercial real estate market early next year."

Song Insang, Head of Business Strategy at RSquare, a proptech company that combines real estate and technology (Executive Director, pictured), stated in an interview with Asia Economy on the 18th, "Indonesia is one of the post-China candidates where global companies are rushing to enter, and there is high demand for information on factories and industrial complexes."

RSquare is the number one proptech company in Korea, estimated to have achieved sales exceeding 120 billion KRW last year. RSquare’s strength lies in its deep and unique data secured through on-the-ground efforts. The nationwide survey data on offices, retail, and logistics centers alone amounts to approximately 150,000 cases.

Based on differentiated information and sales strategies, RSquare is accelerating its overseas expansion. In November last year, it established a business corporation, ‘RSquareSG,’ in Singapore, serving as a Southeast Asia hub. Earlier, in June last year, RSquare set up ‘RSquare Vietnam’ and dispatched personnel to major Vietnamese cities such as Ho Chi Minh and Hanoi to conduct comprehensive surveys of commercial real estate including offices, industrial complexes, buildings, and company housing, directly securing a database of over 10,000 cases. Based on this, it connected Korean companies such as POSCO, GS Energy, SK Magic, and Networks with their offices and expatriate housing in Vietnam.

Song said, "The local sales strategy in Indonesia is similar to that in Vietnam," adding, "We plan to prioritize conducting comprehensive surveys of commercial real estate in major cities based on local market research."

He explained, "Even when gathering the same information, it is necessary to collect data that aligns with industry trends. For logistics centers alone, we are investigating not only large and small-scale centers but also urban micro-fulfillment centers (MFCs), dark stores, and other areas and regions where demand continuously arises."

While RSquare previously focused on collecting various real estate-related information, it plans to build a system to manage the collected information more systematically in the future. Song stated, "This is a system to effectively manage the data RSquare possesses and to create added value. We currently have a sales database, but we are updating it."

To this end, the company recruited a Chief Technology Officer (CTO) last year and hired double-digit numbers of related development personnel. Song emphasized, "This IT system infrastructure fundamentally facilitates sales and enhances customer experience and the quality of RSquare’s brokerage services. As data accumulates annually, it will enable analysis and building design consulting."

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