Analysis of Changes and Outlook for Major Retail Districts in Seoul including Myeongdong, Seongsu, and Hongdae
Cushman & Wakefield Korea will host a free online webinar titled "From Retail Trends to Emerging District Forecasts – 2026 Core Commercial Districts' Seismic Shift" on Thursday, June 11, at 2:00 PM. The webinar will focus on the current status and 2026 outlook of major retail districts in Seoul.
According to big data analysis by Cushman & Wakefield, as of March 2026, monthly sales in the Myeongdong commercial district increased by 33% year-on-year. Other major areas also showed steady growth, including Hongdae (+19%), Seongsu (+11%), and Gangnam Station (+8%). In terms of annual foreign tourist influx, Myeongdong led with 14.27 million visitors, followed by Hongdae with 6.46 million and Seongsu with 5.40 million. Notably, Seongsu-dong recorded a vacancy rate of 3.7%, the lowest among Seoul’s six major commercial districts, indicating a market where demand consistently outpaces supply.
Driven by factors such as the surge in foreign tourists, the expansion of fandom-based consumption, and the growth of experiential retail, the Seoul retail market is undergoing rapid restructuring. Consequently, brand store expansion strategies are evolving beyond simple foot traffic analysis, now requiring a deeper understanding of consumer behavior and the specific context of each district.
The webinar will consist of two main sessions, providing data-driven market analysis and practical insights for industry application:
- Part 1: "The Laws of Commercial Districts Making Money Today"
- Speaker: Kelly Nam, Director of the Retail Tenant Advisory Team at Cushman & Wakefield Korea.
- Details: This session will diagnose the current state of Seoul’s six major commercial districts—Myeongdong, Hongdae, Seongsu, Gangnam, Hannam, and Dosan—based on vacancy rates and sales growth data. It will also analyze the consumption characteristics and future growth potential of each area, highlighting the new paradigm shifts emerging after the rapid growth of Seongsu, Hannam, and Dosan.
- Part 2: "The Language of the Brand Determines the Commercial District"
- Speaker: Lina Lee, Director of the Brand Solutions Service Team at Cushman & Wakefield Korea.
- Details: Utilizing social data analysis, this session will interpret the structure of how brands and consumers shape commercial districts. It will deliver practical insights into the core elements of store expansion strategies: Location, Timing, and Format.
Kelly Nam stated:
"The formula for success in Seoul's retail districts is changing. High foot traffic alone is no longer enough; sustainable store expansion is only possible when a brand's identity aligns perfectly with the context of the commercial district."
Lina Lee added:
"Brands must now look for locations where their culturally aligned consumer base gathers, rather than just chasing high foot traffic. Through social data, we aim to present a new standard for selecting the right commercial districts."
The webinar is free of charge, and pre-registration is open from May 28 to Wednesday, June 10. Registered participants will receive an individual webinar access link via email. Registration can be completed through the official event link. For inquiries regarding the webinar, please contact Cushman & Wakefield Korea.
