Myeong-Dong Shopping District in Korea Regains Fame as Tourism Destination
Myeong-dong, a district in central Seoul, is experiencing a resurgence in popularity as international visitors return and local businesses strive to boost sales. This marks a positive contrast to the pandemic years, during which the area witnessed shop closures and the collapse of local commerce due to a significant decline in visitor numbers.
Tourist numbers in Korea have rebounded as the pandemic subsides and quarantine measures are lifted, with over 5.4 million visitors in the first half of the year, representing 53 percent of the 2019 figures. Myeong-dong, a district in Seoul, has seen increased activity, with a 27 percent rise in sales during the first half of the year compared to the same period last year, reflecting a positive trend in the recovery of tourism and local businesses.
Myeong-dong district in Seoul, Korea is experiencing a thriving industry, evident in declining vacancy rates. In the second quarter of this year, the vacancy rate dropped by 38.2 percent to 14.3 percent compared to the same period last year, marking a significant improvement from the highest vacancy rate recorded in 2022 since the onset of the COVID-19 pandemic.
Myeong-dong’s changing landscape reflects its resurgence, with numerous establishments, including restaurants, bars, street vendors, and fashion, cosmetic, and beauty shops, undergoing renovations and facelifts. This transformation of Myeong-dong in Korea suggests a shift from the district being avoided due to low marketability to becoming an attractive destination for new investments and business development.