Seoul's major retail districts are rapidly being reorganized around foreign tourists and fandom-driven spending. In particular, Myeong-dong, Seongsu, and Hongdae are leading sales growth and visitor inflows, emerging as a new growth axis for Seoul's commercial scene.
Cushman & Wakefield (C&W) Korea, a global full-service real estate corporations, held an online webinar titled "From retail trends to rising districts outlook—2026 seismic shifts in key districts" on the 11th and announced changes and prospects for Seoul's major districts.
According to the announcement that day, as of March, monthly sales in the Myeong-dong district rose 33% from a year earlier, the highest growth rate among Seoul's major districts. Hongdae (19%), Seongsu (11%), and Gangnam Station (8%) followed.
Myeong-dong also had the largest annual inflow of foreign tourists at 14.27 million, followed by Hongdae with 6.46 million and Seongsu with 5.4 million. The ranking of districts by sales growth rate aligns with the ranking by foreign visitor numbers.
Seongsu-dong also stood out for supply shortages. The vacancy rate in the Seongsu district was surveyed at 3.7%, the lowest among Seoul's six major districts—Myeong-dong, Gangnam Station, Hongdae, Cheongdam, Dosan Park, Hannam, and Itaewon.
In the first session, Nam Singu, a director on the retail tenant advisory team at C&W Korea, said, "During the COVID-19 period, emerging districts such as Seongsu, Hannam, and Dosan grew around Millennials and Gen Z, but now we have entered a new growth phase as K-beauty and K-fashion consumption combines with foreign demand."
The consumption structure differed clearly by district. In Seongsu-dong, 79% of total sales came from retail, indicating concentrated fashion and lifestyle spending. In contrast, at Gangnam Station, the medical and beauty institutional sector accounted for 88% of sales, showing a consumption structure distinct from retail-centric Seongsu-dong.
Nam said, "Use the Seongsu, Hannam, and Dosan districts to build brand awareness and concepts, and pursue Myeong-dong, Hongdae, and Seongsu to expand actual foreign sales."
In the second session, Lee Wonhee, a director on C&W Korea's Brand Solutions Team, gave a presentation on the theme "The language of a brand determines the district."
Lee presented "fandom districts" as a key keyword in this year's retail market. Social data analysis showed that Seongsu, Hongdae, and Myeong-dong are each growing on the basis of different types of fandoms.
Seongsu is driven by a "brand fandom" that consumes brand philosophy and spatial experiences; Hongdae by a "subculture fandom" centered on animation, goods, and figures; and Myeong-dong by a "beauty fandom" combining dermatology procedures with K-beauty consumption.
A representative case was Hongdae AK Plaza. Lee explained, "As AK Plaza actively embraced Hongdae's subculture demand, it came to be called 'Hongkiabara (Hongdae + Akihabara),' and sales have more than tripled over the past three years."
The pop-up store boom in Seongsu-dong is also expected to continue for the time being. Lee said, "About 35% of all pop-up stores in Seoul are taking place in Seongsu," adding, "Seongsu is serving as a platform for brands to deliver their universe and experiences directly to consumers."
Lee added, "The core of retail strategy is not simply choosing areas with heavy foot traffic, but finding the right fit between the brand and the district," emphasizing, "Precise data analysis on location, timing, and format is crucial."