▲ Shin SR /CEO Jiheon Kim

34.5% are living alone as of 2022 in South Korea. The industry predicts the percentage will go over 40% by 2050. Increasing number of single-person households is increasing demand for studios. Naturally, real estate agents are moving fast to meet the demand as they will fall behind otherwise.

Shin SR takes lead

Jiheon Kim, CEO of Shin SR, has worked as a real estate agent for 20 years. She has the eyes to read the trend and acts fast to be the first mover in any emerging market. In South Korea, people who prepared the bar exam or the civil service employment tend to stay in a goshiwon, a building with many tiny rooms with communal restroom and showers. Goshiwon’s popularity started to wane as studios started to take the place. Recent increase in single-person households, however, has attracted attention back to goshiwon and Shin SR is second to none when it comes to this field.

Finding a right goshiwon for investor’s needs and wants

Investing in a goshiwon business requires knowledge about fire law, building code and security as regulations on this multi-facility business change time to time. 

“The owner of a goshiwon is categorized as a rental operator so you also need to know about the Lease Protection Act. To take all of these into consideration and process, you’d better seek a help from an real estate agent who knows about this particular field more than anyone else.” says Kim.

From the young to the retirees and housewives, those who knock on the door of Shin SR has significantly increased recently. Kim says that it is advisable to know that more and more solos tend to live in a premium studio despite the rent is high. This is because they tend to use more convenient facilities and cleaner environment. So you need to put your money on the right goshiwon in order to make profits. Shin SR listens to your needs and wants attentively, searches a right one, pays a visit to the goshiwon, and assists the process if you have made your mind. 

“What makes Shin SR stand out in the field is that it provides maintenance in addition to hassling paper works and money transfer. This is because Shin SR takes clients as important as its business partners who will make a success together.” says Kim.