Plan Seoul renewals 18–24 months ahead, with a real shortlist of alternatives in hand — that's the only way to extract concession value from the incumbent landlord.

• Start renewals 18–24 months out, not 6.
• A real shortlist of alternatives is the only credible negotiating leverage.
• Subletting / surrender is a real option in trending-soft markets.
• Restoration / dilapidations costs are often underestimated — budget early.

TL;DR

• Start renewals 18–24 months out, not 6.
• A real shortlist of alternatives is the only credible negotiating leverage.
• sublease-strategy">Subletting / surrender is a real option in trending-soft markets.
• Restoration / dilapidations costs are often underestimated — budget early.

Renewal playbook

Engage tenant rep 18–24 months before expiry. Build a real shortlist of alternatives — landlords will only price seriously when they believe you might leave. Use the Occupancy Cost Estimator to model both renewal and relocation paths on identical assumptions.

Exit playbook

If you're leaving, budget restoration / dilapidations early; in many Seoul lease structures these can run 3–6 months of rent. Sublet or surrender is a real option — trending-soft markets give the landlord real motivation to take the space back cleanly.

Key facts

Frequently asked questions

When should I start a Seoul renewal negotiation?

18–24 months before lease expiry. Earlier on multi-floor or multi-building portfolios.

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

Full sources index · Submit a correction

Related topics

• Lease Renewal Strategy — How to negotiate a Class A lease renewal — leverage, timing, and the relocate-vs-renew test.