What Union Place does

Union Place (유니언플레이스) is a Seoul-based urban culture and proptech company founded in 2017 that develops and operates mixed-use urban real estate under the 'Union Town' master brand. The company targets two customer segments in parallel: building and property owners, whom it serves through a B2B 'Value Plus Solutions' consulting and operation offering, and urban residents — particularly the MZ generation — whom it serves directly through a portfolio of 10+ wholly-owned lifestyle sub-brands covering co-living (Union Town), co-working (Union Work), hospitality (Union Hotel, UpFlo hostel), fitness (UpFit), education (Joyland English Lounge), and F&B (Next Kitchen and related concepts). Across Seoul, Union Place has developed at least five Union Town locations in transit-oriented districts including Dangsan, Gangnam, Hannam, and Seonyu since 2018.

The company's underlying technology is the 'Union Universe Platform,' which it positions as a software layer integrating brand, membership, big data, blockchain, and AI capabilities through the Union Town App to connect its physical venues into a single ecosystem. Union Place generates revenue through a hybrid of managed-services and recurring operations: space leasing and management fees from Union Town operations, direct brand operations and membership models across sub-brands, project-based professional services for property owners, and recently-launched co-living REIT partnerships with Muston Investment Management and D&D Investment that introduce a more capital-light scaling model. The company is privately held, venture-certified by the Korea Venture Business Association, and led by Representative Director Lee Jangho (이장호); in 2024 it underwent a business restructuring with stated focus on PropTech.

Name

Union Place

Legal name

주식회사 유니언플레이스

Website

https://unionplace.kr

Company type

Private

Founded year

2017

Operating status

Operating

Short description

Union Place (유니언플레이스) is a Seoul-based urban culture and proptech company that develops and operates Union Town mixed-use real estate and a portfolio of 10+ lifestyle sub-brands, serving building owners via Value Plus Solutions and urban MZ-generation consumers across co-living, co-working, hospitality, fitness, and F&B.

Ownership category

akta.pro rank

Product category

Mixed-Use Real Estate Development and Urban Lifestyle Operations

NAICS

Rooming and Boarding Houses, Dormitories, and Workers' Camps (72131), Rooming and Boarding Houses, Dormitories, and Workers' Camps (7213), Accommodation (721)

SIC

Hotels, Rooming Houses, Camps & Other Lodging Places (7000)

akta.pro primary industry

Co-Living / Hybrid Extended-Stay Residences (THAGAEAK)

akta.pro secondary industries

Co-Living Hostels (Work+Stay / Digital Nomad) (THAGAGAF), Co-Living Private Rooms (Short-Term) (THAMABAI), Integrated Full-Service Hotel Complexes (Mixed-Use) (THAGAAAL)

Keywords

• Mixed-use real estate
• Co-working spaces
• Co-living spaces
• Urban development
• Lifestyle hospitality

Headquarters

HQ city

Yongdungpo

HQ country

South Korea

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Space Development & Operation: Development and operation of mixed-use urban spaces (Union Town) targeting key transit-oriented locations. Revenue generated through space leasing, management fees, and content operation.
2. Brand Content & Licensing: Development and operation of multiple lifestyle brands including F&B (Cafe Sullivan, Meat Kitchen, Triode), fitness (UpFit), hospitality (Union Hotel), co-working (Union Work), and education (Joyland English Lounge). Revenue through direct operations and potentially brand licensing.
3. Value Plus Solutions for Building Owners: Consulting and solutions services for property owners seeking to maximize space potential through strategic positioning, content planning, and operational expertise. Services include space development from concept to operation and performance improvement.
4. Youth Urban Planning Program (Union X): Talent development program for young urban planners who discover urban culture and local values, planning and operating diverse activities for local residents.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Union Place develops and operates mixed-use urban spaces under the "Union Town" brand, combining co-living, co-working, F&B, fitness, and hospitality. It supplements these physical spaces with the Uniontown App and "Union Universe" platform integrating brand, membership, big data, blockchain, and AI. The company also provides Value Plus Solutions for building owners seeking space development, content operation, and performance improvement consulting.

Product overview

Union Place operates as a proptech company developing and operating an urban ecosystem combining hardware (physical spaces) with software (culture). The core offering centers on Union Town mixed-use spaces, supported by the Union Town App platform combining brand, membership, big data, blockchain, and AI. The product portfolio includes living spaces (co-living), working spaces (Union Work co-working), stay accommodations (Union Hotel, UPFlo hostel), and play/recreation (UPFit fitness, F&B brands like Next Kitchen Company, Joyland language club). The ecosystem is branded under LIVE, WORK, STAY, PLAY categories and targets urban residents seeking integrated lifestyle experiences.

Differentiator

Problem solved

Functional benefit

Brands

• 유니언타운 (Union Town): Mixed-use shared space brand combining living, working, dining, and entertainment; developed and operated as the company's primary urban hardware product.
• 업핏 (UpFit)
• 조이랜드 (Joyland)
• 유니언워크 (Union Work)
• 유니언호텔 (Union Hotel)
• 업플로 (UpFlo)
• 넥스트키친 (Next Kitchen)
• 유니언X (Union X)

Products and services

• Union Town (유니언타운) Multi-functional mixed-use shared space combining living, working, dining, and entertainment; Union Place's core urban hardware product featuring co-living, co-working, F&B outlets, and fitness facilities across Seoul locations.
• Union Work (유니언워크) Shared office space brand offering co-working spaces for individuals and teams, including offices accommodating up to 500 people; 5th location opened in Hannam-dong as of 2022.
• Union Hotel (유니언호텔) Urban wellness hotel platform featuring rooms, fitness facilities, and conference spaces with reported average occupancy rate above 90%.
• UpFit (업핏) Fitness and workout brand including UpFit Wellness Club (fitness center), UpFit Football Ground (futsal field), and UpFit apparel (workout wear).
• Joyland (조이랜드) Global language brand operating Joyland English Lounge, a socializing membership club for English conversation practice and community activities.
• UpFlo (업플로) Socializing hostel brand, described as Korea's first socializing hostel combining accommodation with community building.
• Next Kitchen Company F&B brand portfolio including multiple restaurant concepts and cafe operations under Union Place's food and beverage research lab.
• Value Plus Solution (밸류 플러스 솔루션) Space development and operation solution service for building owners covering space development, content operation, and performance improvement with differentiated attraction capabilities.
• Uniontown App Software platform combining brand, membership, big data, blockchain, and AI technologies to build the "Union Universe" ecosystem, enabling member access and engagement across Union Place's physical spaces.
• Union X (유니언X) Youth urban planner training program where participants discover urban culture and local values, planning and operating diverse activities for local residents.

Quantifiable outcome

• Union Hotel maintains average occupancy rate above 90% after opening
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Six partnerships are on record, tiered minor and core.

• Mechanism Inc. (메커니즘)minorStrategic or Co-development Partner · 1 December 2022Business partnership agreement signed for collaborative urban development initiatives combining both companies' expertise in space and urban solutions.
• DA&T (대아티아이)coreStrategic or Co-development Partner · 1 August 2022Joint development partnership for Sunyu-do (Seonyu) hotel project, combining Union Place's space development expertise with DA&T's real estate capabilities.
• Korea National Sport University - Leisure Sports Industry Department (한국체대 레저스포츠산업학과)minorStrategic or Co-development Partner · 1 January 2021Partnership for talent development, with Union Place supporting education and training while gaining access to potential future employees in sports and leisure management.
• HDC Asset Management (HDC자산운용)coreStrategic or Co-development Partner · 1 January 2021Collaboration for opening Union Town Gangnam location in December, combining HDC's asset management capabilities with Union Place's space operation expertise.
• Deokeops (덕업닷컴)minorChannel Partner/ Reseller/ Distributor · 1 January 2021Marketing partnership offering cross-promotional discounts between Deokeops' services and Union Place spaces, driving customer acquisition for both brands.
• Coramcor Asset Management (코람코자산운용)coreStrategic or Co-development Partner · 1 January 2018Early partnership for transforming aging building in Dangsan-dong into youth complex cultural space Union Town, pioneering the company's space redevelopment model.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• OYO Rooms: Global hybrid budget-hotel / branded-residence operator; comparable to Union Hotel and UpFlo as a broader example of asset-light, brand-led lodging expansion in Asia.
• IWG (Regus): World's largest flexible workspace operator (Regus, Spaces, HQ); comparable to Union Work at the category level and a reference point for scaling shared office across geographies.
• WeWork: Global co-working incumbent operating flexible workspace; comparable to Union Place's Union Work sub-brand as the broader category benchmark for shared office economics and member engagement.

Emerging players

• Basecamp (co-living): Co-living and lifestyle operator blending accommodation with community programming; comparable concept-level approach to Union Town's mixed-use residential + community model.
• Lodge 27 (Korean urban fitness + lifestyle): Korean hybrid fitness + lifestyle club concept in Seoul; comparable to UpFit Wellness Club's combined fitness/community positioning inside Union Town.
• Kasa (Korean urban lifestyle spaces): Korean operator of curated urban lifestyle and shared spaces in Seoul; comparable thematic positioning to Union Town's mix of lifestyle brands under a single ecosystem.
• Zeppelin (Korean co-living): Emerging Korean co-living/hostel operator targeting young professionals and travelers — partial overlap with UpFlo hostel and Union Town's residential offerings.

Direct peers

• The Stay (Korean co-living): Korean hybrid co-living / coliving-hotel brand operating furnished residences in Seoul with a similar live-work-play, member-oriented positioning to Union Town.
• ASSOME Studio: Korean operator of branded co-living and shared housing spaces in Seoul, targeting young professionals — directly comparable to Union Place's Union Town co-living footprint and MZ-generation positioning.
• Dosi Living: Korean co-living operator offering furnished, community-led housing for young professionals — overlapping directly with Union Town's residential concept and target customer.

Market position

Competitive moat4 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Union Place