Seoul high street retail market showed a gradual recovery in 2024 compared to 2023. Notably, Myeong-dong saw a significant improvement in its vacancy rate with the increase in foreign tourists, while Garosugil experienced a slight rise in vacancies. Myeong-dong stands out as the most visited commercial district by foreign tourists, with a particular interest in K-beauty, leading to the opening of many cosmetic stores. All six major districts recovered to pre-pandemic sales levels in the first half of 2024, with medical businesses showing remarkable sales growth across all districts.
Learn more in the 2024 Seoul High Street Retail that highlights:
- Overview of the Korean retail market
- Key takeaways for 2024
- A deep dive into the Seoul high streets and tenant trends
