"Outsourcing Space" Mini Storage Darak, Self-Storage as Told by CEO Hong Woo-tae

Hello, this is self-storage ‘Mini Storage Darak’.

Today, we have prepared a slightly special story. We will hear directly from the person who created Darak, CEO Hong Woo-tae of Second Syndrome, about the background and philosophy behind Darak’s birth, as well as the future he is envisioning.

"A company that helps you live a second life"

Second Syndrome, which operates Darak, started from the premise that "people have two lives."

The first life is a life devoted to what is required for survival. It is a life of working, earning money, and fulfilling duties. And the second life is a life of self-realization. It is a life of enjoying hobbies, having time of your own, and doing what you truly want to do. Second Syndrome was founded with the corporate philosophy of becoming a company that helps people live their second life.

A way to live comfortably without owning a home

For the second life, the first thing we focused on was the issue of living space.

To live comfortably, a pleasant residential environment is essential. But in reality, only a very limited number of people can afford to own a large home. So what is the way to live comfortably without owning a home? CEO Hong Seong-joon’s conclusion was clear.

"Let's outsource space."

Wouldn't people be able to live much more conveniently if they could use space only as much as they need, for only as long as they need it? If space could be used flexibly, just like attaching and removing items, wouldn't that change the quality of life? Darak began with this question.

A model proven overseas, redesigned for Korea

The concept of self-storage itself is not new. Overseas, it had already become an industry centered in the United States in the 1960s. But what Hong Seong-joon was concerned about was not simply bringing in an overseas model.

"How can we introduce this model well in Korea, and how can we make it easy for people to use?"

The result of redesigning it to fit Korea’s housing environment, consumption patterns, and lifestyle is the 'Korean-style Mini Storage Darak.'

Why did it start in Gangnam?

For a space outsourcing service to succeed, two conditions were important. One was that real estate prices needed to be high enough for there to be demand for additional space, and the other was that an appropriate income level had to be in place for people to use the service.

Gangnam was an area with a high concentration of single-person households and a high proportion of wage earners, meaning income levels were also supportive. We judged that it was right to build the foundation of the business in a place that met both conditions, so Darak took its first step in Gangnam.

The people who use Darak

Currently, 46% of Darak users are single-person households, and the gender ratio is almost even. By age group, people in their 30s make up the largest share, followed by those in their 40s.

Among stored items, clothing accounts for the largest share due to Korea’s distinct four seasons, followed by books and documents. Recently, as lifestyles and hobbies have become more diverse, storage for hobby items such as camping gear and sports equipment has also been increasing rapidly.

There is one thing they have in common: items that they do not want to throw away, but that take up a lot of space at home and are precious to them. Those are the kinds of things stored in Darak.

Changes brought by COVID-19, and growth

During the time when most industries were in a slump due to COVID-19, self-storage actually grew. The longer people stayed at home, the more they felt the lack of space, and naturally began looking for new space.

As a result, the number of customers experiencing Darak’s service increased rapidly, and good partners who wanted to build the service together also joined. Even now, we continue to receive countless inquiries from customers asking, **"When will one open in our neighborhood?"**

The future Darak envisions: 'Hyper Space Life'

Darak has no intention of remaining just a storage company. The future of Darak, as described by CEO Hong Seong-joon, is 'Hyper Space Life', that is, overcoming the limitations of space through hyper-space technology.

We have always lived by fitting ourselves into predetermined spaces. Whether it was a home or an office, compromising within limited space was considered natural. Through the advancement of technology, Darak aims to go beyond these limits.

Expanding the service so that more people can use it more conveniently, while continuously improving the quality of the same service. And moving forward by collaborating with partners and investors who share this journey. This is the path Darak is taking.

We will overcome the limits of space and make our lives more comfortable and convenient.

This is Mini Storage Darak’s promise.