SK D&D, Habyt to cooperate for residential business

SK D&D Co., a real estate unit of South Korea’s SK Group, announced on Tuesday that it signed a memorandum of understanding (MOU) with the Germany-based global coliving firm Habyt to strengthen residential solution business capabilities.

Headquartered in Berlin, Germany, Habyt operates over 30,000 residential spaces in more than 50 cities worldwide, making it a global coliving company.

Under the terms of the agreement, the two companies will establish a strategic partnership and cooperate in jointly promoting and expanding corporate-type rental housing businesses domestically and internationally.

They plan to collaborate on marketing, promotion, and information and communication technology (ICT) solutions.

SK D&D will utilize Habyt's online platform to expand the network of its residential solution brand "Episode" and accelerate its leap to become a major player in the corporate rental housing market.

SK D&D will partner with Habyt to feature short-term residential spaces of Episode on Habyt's online website and promote them to global visitors.

Habyt aims to enter the South Korean market by investing in D&D Property Solutions, a subsidiary of SK D&D specializing in residential operation solutions.

Write to Oh-Sang Yoo at osyoo@hankyung.com