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
2024 Seoul High Street Retail Report
Suki Kim • 17/10/2024
CONTACTS
Recent Insights
Research • Supply Chain
2026 Korea Logistics Market Report provides an overview of key trends across supply, investment, and leasing activities by submarket, offering insights into the broader dynamics of Korea’s logistics real estate sector.
Suki Kim • 14/05/2026
Insights • Investment / Capital Markets
Instant Insight #2 Asia REIT Market
Since 2019, Korea’s REITs have experienced rapid growth, primarily led by large corporate-sponsored vehicles.
Suki Kim • 04/09/2025
Insights • Investment / Capital Markets
Instant Insight #1 Office Fit Out Cost Guide
In Korea, higher construction costs have pushed up rents for new buildings.
Suki Kim • 09/06/2025
