Where do insurance occupiers lease office space in Seoul?

Most cluster in Seongsu. Rent runs ~142000 KRW/sqft ($34 USD) for trophy and prime stock.

What fit-out spec do insurance occupiers run in Seoul?

Typically high-end at $180–260/sqft.

How much office space per seat should a insurance occupier plan in Seoul?

Plan ~220 sqft per seat blended. A 100-person team typically takes 22,000 sqft.

What NAICS codes describe the insurance vertical?

Representative NAICS 2022 codes: 524, 5241.

What is the talent index in Seoul?

82/100. Use the city profile for full detail.

Insurance occupiers in Seoul typically cluster in Seongsu, plan ~220 sqft per seat at high-end fit-out ($180–260/sqft), and pay around 142000 KRW/sqft ($34 USD) on Class A.

Preferred submarket: Seongsu.
Typical fit-out spec: High-end ($180–260/sqft).
Plan ~220 sqft per seat for headcount sizing.
Class A rent context: 142000 KRW/sqft ($34 USD).
Typical lease: 5 years with 6 months rent-free.
Talent depth in Seoul: 82/100.

Insurance office space in Seoul

Insurance occupiers in Seoul typically cluster in Seongsu, plan ~220 sqft per seat at high-end fit-out">fit-out ($180–260/sqft), and pay around 142000 KRW/sqft ($34 USD) on Class A.

TL;DR

Preferred submarket: Seongsu.
Typical fit-out spec: High-end ($180–260/sqft).
Plan ~220 sqft per seat for headcount sizing.
Class A rent context: 142000 KRW/sqft ($34 USD).
Typical lease: 5 years with 6 months rent-free.
Talent depth in Seoul: 82/100.

Where they cluster

Insurance occupiers in Seoul typically anchor in Seongsu. Fashion, design, tech-creative, advertising, hospitality.

What they pay

Class A rent in Seoul runs 142000 KRW/sqft ($34 USD) on a 5-year lease with 6 months free. Prime submarkets sit at or modestly above the city index.

Spec and fit-out

Typical insurance fit-out targets high-end specification at $180–260/sqft. Branded reception, full client-facing programming, premium furniture, and specialist AV are standard.

Headcount sizing

Plan around 220 sqft per seat blended (workstation + circulation + amenity). A 100-headcount insurance office in Seoul typically targets 22,000 sqft of leasable area.

Talent angle

Underwriting and actuarial talent concentrates near broker districts; long lease durations and conservative escalator structures are typical. Deepest tech (Samsung, LG, Naver, Kakao) and finance talent pool in Korea. Average all-in compensation indexes 82.

Tax and lease context

Headline corporate tax: 24.2%. Standard 5-year lease (often 3+2). Rent + management fees billed separately. Large jeonse (lease deposit) common — 10-20x monthly rent. Reinstatement contractual.

Key facts

city	Seoul
industry	Insurance
naics	524, 5241
preferredSubmarket	Seongsu
preferredFitoutSpec	High-end
fitoutBand	$180–260/sqft
sqftPerSeat	220
classARentLocal	142000 KRW/sqft/yr
classARentUsd	$34/sqft/yr
vacancyPct	5.2%
typicalLeaseYears	5
typicalRentFreeMonths	6
talentIndex	82
corporateTaxPct	24.2%

Frequently asked questions

Where do insurance occupiers lease office space in Seoul?: Most cluster in Seongsu. Rent runs ~142000 KRW/sqft ($34 USD) for trophy and prime stock.
What fit-out spec do insurance occupiers run in Seoul?: Typically high-end at $180–260/sqft.
How much office space per seat should a insurance occupier plan in Seoul?: Plan ~220 sqft per seat blended. A 100-person team typically takes 22,000 sqft.
What NAICS codes describe the insurance vertical?: Representative NAICS 2022 codes: 524, 5241.
What is the talent index in Seoul?: 82/100. Use the city profile for full detail.

Editorial provenance

Reviewed by Kenji Watanabe — APAC contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

CBRE Marketview reports — CBRE
JLL Office Insight — JLL
Cushman & Wakefield Marketbeat — Cushman & Wakefield
Savills World Research — Savills
Colliers Global Office Outlook — Colliers

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