Investment in NH Nonghyup Capital Building Acquisition Fund
Cloud specialist company Orchestrro announced on the 20th that it has purchased the NH Nonghyup Capital Building located in Yeouido, Seoul, and plans to use it as its office building starting in 2027.
Orchestrro invested common shares as a strategic investor (SI) through Stick Alternative Asset Management's fund in the NH Nonghyup Capital Building, which is being acquired by Koramco Asset Management. The building has a size of 6,262 pyeong and consists of 6 basement floors and 11 above-ground floors. It is located between Yeouido Station and Saetgang Station. Orchestrro plans to use floors above the 5th as office space, while the remaining floors will be developed into employee welfare facilities such as an on-site cafeteria.
Since its establishment in 2018, Orchestrro has grown more than twice every year and considered securing an office building an essential task. This year alone, it hired over 200 new employees, surpassing a total of 500 employees. In addition to its current headquarters located in Yeouido Park One Tower, it is leasing and using the nearby Simpack Building. As it rapidly expands its market through talent recruitment and mergers & acquisitions (M&A), it is expected that the number of employees will exceed 1,000 by 2027.
Orchestrro’s strategy with this new office building is to consolidate its dispersed Seoul offices into one location to improve work efficiency and strengthen communication among employees. It also plans to proactively secure smooth workspaces in line with business growth and expansion.
Kim Minjun, CEO of Orchestrro, said, "We decided to secure an office building to expand hiring and provide a stable working environment," adding, "The new office will offer employees an optimal work environment, greatly enhancing organizational cohesion, productivity, and job satisfaction."
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