Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting cushmanwakefield.com to read:%0A%0A {0} %0A%0A {1}
overcoming-hurdles-in-adopting-blockchain-in-cre overcoming-hurdles-in-adopting-blockchain-in-cre

Seoul Loves Reborn Spaces

11/01/2019
Seoul’s recent trend of transforming old industrial factories and warehouses into new, hip cultural spaces is still very much the hype for developers and consumers alike.

Written by Glenn Yang & Karis Kim, Retail Cross Border, Korea, Cushman & Wakefield

Seoul’s recent trend of transforming old industrial factories and warehouses into new, hip cultural spaces is still very much the hype for developers and consumers alike. Following the revitalization boom that breathed new life into Seongsu, the once major industrial district for metal welding and shoemaking, as well as Euljiro, the iconic hub for printing factories throughout the 60s-80s, today the movement is continuing to spread to other aged pockets of the city.

The ‘Vinyl House’ pictured above is a perfect example of such recreated spheres, nestled comfortably in glaring contrast to its industrial neighborhood of Mullae in western Seoul. Vinyl House acts as a resting and cultural spot showcasing artists and various collaborations, with a shop-in-shop denim brand and in-house made fusion cuisine.

Consumers can explore the back alleyways to find such hidden gems, spending hours experiencing the area, seeing first-hand the marks of the industrial past and paying up to taste new foods, drinks, and discover a wide array of creative expression. Anything experimental goes – especially when it comes to art, culture, and community. Indeed, consumers are increasingly ditching traditional spending habits in order to delve into multi-faceted experiences and alluring content to be consumed.

seoul-loves-reborn-spaces-2-600x365

Lifestyle Curating and Paper is Back!

Consumers in Seoul are returning to the old fashioned printed word. The secret to this back-to-retro success is presented by lifestyle curated bookstores that are combining cultural interests with paperback books, cafes, lifestyle shops, and trendy select dining.

seoul-loves-reborn-spaces-3-600x400

Photo source: http://naver.me/GUul7S2X

Arc n Book pictured above is located in the basement floor of a major office building in the central business district of Euljiro, Seoul. Centered around books, Arc n Book curates lifestyles and tells stories with four themes; ‘Daily’, ‘Weekend’, ‘Style’, and ‘Inspiration’. Through these key themes, consumers can explore new living patterns and interests.

seoul-loves-reborn-spaces-4-600x339

Photo source: https://www.insight.co.kr/news/197686

Following this phenomenon, lifestyle brand MUJI also most recently opened its biggest store in Korea right alongside Yeongpoong Bookstore in the Jongak business district. Implementing MUJIBOOKS, the new concept focuses on paper books as well as lifestyle products promoting health and beauty, household items, and more.

The cross-over of paperback bookstores offering up a serving of nostalgia, as well as new retail experiences and spaces made up of diverse modern culture and fun, are together set to create a wide range of new, multi-use complexes across Korea. As the interests of consumers continue to favour experience-first retail, developers and occupiers alike must take note, regardless of whether they’re a multinational or mom-and-pop shop. In this age of fickle consumer loyalty, in-store experiences can make all the difference, for better or for worse.

Related Insights

Singapore
Insights • Insights

Commentary On Q2 2022 URA Real Estate Statistics

New sales volumes picked up in Q2 2022 with 2,397 units transacted, 31.3% q-o-q higher than that in the preceding quarter given robust sales performances at major new launches.
Xian Yang Wong • 29/07/2022
istockphoto-2022-cardimage-Policy--Watch-SG
Insights • Investment

Cushman & Wakefield's Comments On Ura May 2022 Developer Sales

On the back of more launches in May, developers sold 1,356 new private homes (excluding ECs) last month – the highest monthly volumes since November 2021 when 1,547 new units were sold.
Xian Yang Wong • 15/06/2022
istockphoto-2022-cardimage-Policy--Watch-SG
Insights • Investment

Policy Watch Singapore: Budget 2022

Over the last two years, the Singapore Government dedicated a total of close to S$100 billion to combat the impact of Covid-19. 
Xian Yang Wong • 21/02/2022

Related Stories

Dexcom Philippines New Office Fit-out Project
Dexcom Philippines • Healthcare
Learn More
Cushman & Wakefield Stories
Booking.com Philippines Inc. • Travel
Learn More
Cushman & Wakefield Stories
OMD Philippines • Advertising
Learn More
With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Privacy & Cookies.
MORE OPTIONS
AGREE AND CLOSE
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All
SAVE SETTINGS