What Drives office out costs in South Korea?
South Korea remains one of the higher-cost office fit out markets in Asia Pacific, driven by advanced building standards, complex mechanical and electrical systems, and growing demand for high-quality workplace environments. Major corporate hubs such as Seoul and Busan continue to attract occupiers seeking modern office environments designed to support collaboration, technology integration and employee experience.
Seoul as South Korea's highest-cost office market
Seoul continues to lead South Korea in office fit out costs, reflecting its role as the country's primary financial and corporate hub. Companies are increasingly investing in next-generation office environments to attract and retain talent.
Busan as cost-efficient office location
Busan represents a more cost-competitive office fit out market compared with Seoul while still offering high-quality office infrastructure and access to talent. Busan is an attractive option for companies seeking to optimise real estate costs while maintaining modern workplace standards.
Workplace Technology and Fit Out Cost Drivers
Companies are looking to create offices that enhance collaboration, productivity and employee engagement, with modern office fit outs increasingly incorporating technology-enabled collaboration spaces and flexible work environments that reflect the broader shift toward hybrid work strategies across Asia Pacific.
| Rank/ Cities | Cost |
|---|---|
| 01/ Seoul | 2,018,115 KRW/sqm |
| 02/ Busan | 1,862,875 KRW/sqm |
What is the contractor outlook for office fit out cost?
Our Contractor Sentiment Survey gathered insights from contractors on sales activity and input costs over the past year, as well as their outlook for the next six months. Here are some key findings from Korea respondents.
Our Services
At Cushman & Wakefield, we offer a range of services to help you plan and execute your office fit out project. Our team of experts can provide guidance on project and development services, global occupier services, and total workplace consulting. We have a strong reputation in the Asia Pacific region and are committed to helping our clients achieve their goals.
Project & Development Services
Global Occupier Services
Total Workplace
We support you throughout the entire workplace lifecycle, creating a workplace aligned to business objectives, enhancing organisational performance and engaging employees.
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Contacts
Andrew Carmichael
Senior Director, Head of Sales & Strategy, Project & Development Services, Asia Pacific
Singapore, Singapore
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