SOOP said on Thursday it has decided to buy the land and building at GB2-C, 25 Pangyo-ro 256beon-gil, Bundang-gu, Seongnam, Gyeonggi Province.

SOOP plans to use the building as its headquarters and research and development (R&D) center. It will gradually relocate management, technology and business units spread across multiple sites, as well as work space for major affiliates.

The company aims to begin the relocation in the fourth quarter of this year and complete it by the first quarter of 2028. It said the unified work base will be its first in about 20 years since it launched its live streaming service in 2005.

The company explained that it is pursuing the purchase of a new headquarters to integrate the collaboration system and operational foundation of organisations split across several sites as its services and business areas have expanded.

It said one-off costs could arise during the acquisition and relocation process. It expected fixed operating costs such as rent and management fees paid at existing sites to fall once the work space relocation is completed.

A SOOP official said, "We will proceed stably with moving in and the organisational relocation to enhance connectivity between organisations and strengthen capabilities for technological innovation and business growth."