Myongin Research Institute, specializing in unmanned study cafes and co-working spaces, secured investment from Merry Year Social Company to enhance technology and expand operations amid a growing demand for automation in South Korea.

Information on the Target

The target of this investment is Myongin Research Institute, which operates unmanned study cafes under the brand 'Ending Study Cafe' and co-working spaces known as 'Ending Space'. Established in November 2022, the institute has matured rapidly, operating 42 locations nationwide while gathering extensive spatial data. Utilizing advanced technology such as AIoT, facial recognition access, real-time monitoring, and an AI learning management system, they have achieved high levels of unmanned operation.

Within just three years since its founding, Myongin Research Institute reported revenue of 2.05 billion KRW, reflecting a remarkable growth rate of 1200% compared to the previous year. Furthermore, the company prides itself on maintaining an operational profitability margin of 11.8% and an unprecedented closure rate of zero. These achievements highlight the company’s strong market position and operational efficiency.

Industry Overview in South Korea

The Korean market for unmanned solutions, especially in the food and beverage sectors, has shown vibrant growth. As remote work has become more prevalent due to recent global events, the demand for flex