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Title S-1 joins hands with WeWork to initiate Smart Workplace for the 4th Industrial Revolution
Upload Date 09-18-2018

S-1 (CEO Yook Hyun-pyo), a total security solution provider, announced on September 13 that it entered into the 'Smart Workplace Solution MOU' with WeWork. Smart Workplace provides flexible office space that enables collaboration through smooth communication among employees and networking among them so that they can flexibly respond to the working environment quickly evolving in line with the 4th Industrial Revolution. Kwon Young-gi of S-1 BE (Building Engineering) Business Division, Matthew Shampine, CEO of WeWork Korea, Goh Woon, director of WeWork Korea, and Grant McGrail, global Head of Enterprise Growth, WeWork, headquartered in New York, were present at this event held at WeWork Jongno Tower.

Through this MOU, S-1 and WeWork agreed to mutually cooperate with regard to 'Powered By We,' the WeWork Smart Workplace solution business, as well as expansion of the existing office space. Powered By We service, launched by WeWork in 2017, is a multi-faceted service for enhancing work efficiency and promoting collaboration and exchange among employees. It covers everything from the design of flexible office space to management and operation.

S-1 takes advantage of its building management competency based on its know-how of managing large customers, such as large corporations and public institutions, and its state-of-the-art security technology, whereas WeWork capitalizes on its know-how of space design and management consulting based on its experience in implementing optimized work space. Besides, S-1 is planning to apply its total real estate service and security products, provided by PM/FM/LM experts, to the branches of WeWork.

As a result, S-1 is now able to provide one-stop service with regard to Smart Workplace of enterprises by adding space solution competency to its existing building management business. Also, WeWork can utilize S-1’s real estate management and security know-how and domestic networks to lay down a solid foundation for helping Powered By We advance into the Korean market and reinforce its presence.

WeWork is a global platform that provides spaces, communities and services for creators around the world. Currently it has 287 branches in more than 77 cities in 23 countries around the world. Since it arrived in Korea about 2 years ago in August 2016 , it has been operating a total of 10 WeWork branches.

"This MOU will create a new paradigm in work space," said Kwon Young-gi, S-1 BE (Building Engineering) Business Division. "We will take the lead in implementing work space for flexibly responding to the 4th Industrial Revolution and external changes by implementing and operating Smart Workplace."

"I am glad that we can start the 'Powered By We' service in earnest through partnership with S-1," said Matthew Shampine, CEO of WeWork Korea. "As a global platform, WeWork will do its best to help more Korean creators experience the changes in working environment and life through WeWork."