Stayed here for 2 nights, and here's a list of my complete review:
Located in the quieter side of the area, but it's only take 3 minute walk to the hustle and bustle of Myeongdong. Very close to Myeongdong Stn. exit 9, bus stops, Angel-in-Us coffee branch, and 24-hour 7eleven in the area. There's an elevator in the building so don't worry about bringing your luggages up.
Important notes to take (learned this in the hard way): If you have huge luggages and want to take the subway, by all means take Exit 5 or 7 to go up because these exits have escalators. Exit 9 is the one closer to the property, but you have to take the stairs (and I tell you, it's not easy with all those heavy luggages). Or you know, just take the bus.
Check-in is fairly smooth and easy, only need to show passport and no deposit needed at least in my case. Check-in and check-out time is strictly at 3PM and 11AM respectively, but they will keep your luggage for free if you come before check-in time or if you need somewhere to go first after checking out. Staffs are quite helpful even with minimal English capability. It was raining a lot in April and they provided free umbrellas so I didn't have to buy.
Breakfast is provided every morning (didn't manage to try it, but took a quick glance and they provide standard hostel breakfast: cereal, milk, bread, butter, & jam), there's water dispenser in every floor so you can refill your water bottle, and they have washing machine for guests to use. They provided soap, shampoo, and conditioner, but no toothbrush so make sure to bring your own. Towel is very small, thin, and not very functional, so I suggest you also bring your own instead. They provide slippers too.
Slept in their Economy double room, and boy, it's 'economy' at best. The description says the room fits 2 person, but I think it's best if you're here by yourself. As you can see from my pics, it's very narrow even I needed strategy to open my luggage because it'd block my way to the bathroom :)) Bed is quite comfortable, but there were stains in the sheets. I wouldn't mind but if you're a clean-freak I don't think the room is for you. There are also TV, AC, hairdryer, and refrigerator provided. Too bad they didn't have heater because it's very very cold in April even I'm freezing inside.
Affordable for its location, considering I stayed in April, weekend time, and during peak cherry blossom moments.
If you want to get closer to the heart of Myeongdong, I suggest you check out their other properties (K-guesthouse 1 or 4).
Will I be back:
Uhm probably, if there's no other choice of affordable & private room.