[2022 Apartment Brand Awards] Booyoung Group, Innovation in Rental Housing... Reaching 'Premium'

[Asia Economy Reporter Hwang Seoyul] Booyoung Group’s ‘Sarangro,’ which won the Grand Prize, is a brand that embodies the housing philosophy of ‘housing as a place to live, not to own.’ Booyoung Group strives to improve housing quality so that the brand’s meaning, wishing all residents to create a ‘home full of love,’ can be reflected in actual apartments. They are establishing the image of ‘premium rental housing’ through designs that satisfy residents as well as aftercare management such as operating customer satisfaction centers.

The Booyoung ‘Sarangro’ brand contributes to housing stability for rental households by supplying rental apartments. Among approximately 300,000 apartments supplied nationwide by Booyoung Group, about 230,000 are rental apartments. As of last year, the average residence period of Booyoung rental apartment residents was 5.2 years. This is 2 years longer than the national average residence period of 3.2 years for monthly rent households surveyed by the Ministry of Land, Infrastructure and Transport last year, and exceeds the 4 years guaranteed when tenants exercise their contract renewal rights.

Since 2018, Booyoung Group has also sought coexistence with non-homeowners by freezing rents for 37,572 rental units across 51 complexes nationwide for three years. The rented apartments are converted to sale at prices lower than market value, serving as a housing ladder for non-homeowners to own their own homes.

Through the ‘Booyoung Sarangro Daycare Centers,’ the group is also leading efforts to solve education and childcare issues faced by residents. They operate a total of 65 daycare centers within Booyoung rental apartment complexes nationwide. The support for daycare is based on the belief that social issues such as low birth rates, aging population, and work-family balance can be addressed through childcare projects. The company selects directors according to the same standards as public daycare centers through an in-house childcare support team. The waived rent for ‘Booyoung Sarangro Daycare Centers’ is used for children’s event fees, field trip expenses, teaching materials, and special activity costs, reducing the childcare cost burden on parents.

Booyoung Group is also expanding the brand’s meaning globally by leading social contributions such as donations overseas. In particular, they are dedicated to providing educational materials and facilities for children abroad. About 70,000 digital pianos donated to 25 countries in Southeast Asia, Africa, and South America, approximately 610,000 blackboards donated to 15 countries, and over 600 elementary schools built in Southeast Asian countries bear the ‘Sarangro’ logo. The total amount donated through Booyoung Group’s philanthropic activities has reached approximately 900 billion KRW to date, and in 2014, the group was ranked first among the top 500 domestic companies in terms of donation amount relative to sales.

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