Major commercial districts in Seoul have been revitalized since the reopening. The vacancy rate has dropped to the 10% range from over 20%, with the speed and extent of recovery varying by district, depending on the characteristics and resilience. Stores in Myeong-dong have reopened with the return of foreign tourists, but Garosu-gil has taken longer to bounce back. Seongsu, an emerging hotspot for the younger generation, has become a marketing battleground for brands from up-and-coming to luxuries.
Learn more in our 2023 Seoul High Street Retail report that highlights:
- An overview of South Korea retail market
- Four key takeaways for 2023
- A deep dive into the Seoul high streets and tenant trends
Note: This report is only available in Korean.