FastFive Aims for Annual Profit Turnaround, ₩130 Billion Sales in 2024

Shared office leader FastFive achieved its highest revenue since its founding in 2024, reaching 130 billion KRW, and finally succeeded in turning its first annual profit. It recorded an operating profit of 5.4 billion KRW and a net profit of 13 billion KRW, signaling its entry into a full-fledged monetization phase. The secret to these results lies in the expansion of new branches in urban areas and excellent vacancy rate management. In particular, the crucial factor was shared offices establishing themselves as the standard office solution for companies with 1 to 30 employees, creating robust demand despite economic volatility. New business segments such as the membership lounge Fivespot (65% growth) and interior design (75% growth) also solidified a stable revenue base, driving growth. FastFive, operating 56 branches nationwide as of 2024, is actively introducing a consignment management model, a fee-based structure similar to global hotel chains. The company plans to further strengthen partnerships with landlords by securing over 10 additional consignment-managed branches by 2025. Furthermore, 'Powered by FastFive' branches, which provide vacancy solutions and risk management to landlords and one-stop space solutions to clients, surged from 3 in 2023 to 15 in 2024, with plans to expand market dominance by targeting 50 client companies this year. Based on its solid performance, FastFive has announced accelerated growth for 2025 as well. In particular, leveraging the operating area secured through the expansion of consignment management, the company plans to fully diversify its services, including customized space products, interior design, and IT solutions for corporate clients. CEO Kim Dae-il stated, "2024, which saw us turn a profit alongside new business investments, was a very meaningful year." He added, "Having proven our profitability, this year we will operate spaces totaling up to 10,000 pyeong and solidify our position as the number one office brand in Korea."