[비즈한국] Additional buildings and land purchased by Krafton259960, the game company known for 'PUBG: Battlegrounds', have been identified in Seongsu-dong 2-ga, Seongdong-gu, Seoul. These properties were acquired in 2021 but had not been previously disclosed. Krafton has been steadily purchasing real estate in the Seongsu-dong 1 and 2-ga areas since 2020. There are already over seven such locations known through public disclosures and media reports. Attention is now focused on how Krafton, which has invested hundreds of billions of won into Seongsu-dong real estate, will utilize these undeveloped plots.
According to the real estate register and building ledger, Krafton purchased land (20 billion won) and a building (approximately 57 million won) near Gyeongsu Elementary and Middle Schools in Seongsu-dong 2-ga on August 24, 2021. The land covers 606.6㎡, and the building is a cement block warehouse with a total floor area of 167.61㎡. The site is located opposite the Ably Grit Center and is adjacent to two commercial buildings that Krafton purchased for 64 billion won in March 2023 (Related article: Krafton, Opening the 'Seongsu-dong Era', Purchases Building Belonging to Chairman's Acquaintance for 64 Billion Won).
Although it has been nearly three years since Krafton purchased the site, there have been no signs of development. A site visit and review of portal site road views suggest that the land is currently being used by a recycling company. In addition to the cement block warehouse, a container has been installed on the site, which has been identified as an unregistered temporary structure not reported to the Seongdong-gu Office.
On March 4, 2021, prior to its initial public offering (IPO), Krafton also purchased several units (6001–6008, 7001, 8001) in a large, abandoned building located about 150 meters from Gyeongsu Elementary and Middle Schools for approximately 23.3 billion won, but it remains unused. This building is the SD Wedding Tower (Seongdong Mart building) in Seongsu-dong 2-ga, which remains abandoned with banners indicating that a "lien is being exercised." Currently, only the underground parking lot is in operation; most of the building has its electricity and water cut off, and there are no businesses operating inside.
When asked by Bizhankook about the purpose of these real estate acquisitions and the measures taken regarding the unregistered temporary structures, Krafton only replied that they were "purchased to secure workspace for members."
Krafton is steadily purchasing plots according to plan. In November 2021, the company joined a consortium with Mirae Asset Global Investments to purchase the E-Mart139480 headquarters building and site for approximately 1.2 trillion won. To facilitate this, a real estate fund (Mirae Asset MAPS General Private Real Estate Investment Trust No. 66) was established, to which Krafton contributed 290 billion won.
The development project for this site has been named the 'K-Project'. Plans include constructing an office and cultural complex with 8 basement levels and 17 floors above ground, which will also house Krafton's new headquarters. The design is being handled by the famous British architect David Chipperfield, who designed the Amorepacific headquarters in Yongsan, and Samoo Architects & Engineers, which oversaw the design of Naver's second headquarters (Naver 1784). The groundbreaking ceremony was held last April, and completion is expected in 2027.
Industry experts believe that Krafton intends to create a 'Krafton Town' in Seongsu-dong by consolidating its headquarters, subsidiary studios, and cultural facilities utilizing its own intellectual property (IP). In December 2023, Krafton also purchased the land and building of 'Megabox Square' in Seongsu-dong 1-ga for 243.5 billion won. This building, located a 5-minute walk from Seoul Forest Station, is where the Megabox headquarters is located; the purpose of the acquisition is the same as previous investments: securing business hubs and reducing rental costs. Last July, Krafton also hosted 'Battlegrounds in Seongsu' at 'Meta Ground' within Megabox Square, where fans could experience the PUBG IP offline for free.