Our Neighborhoods Entering a New Era: Myeongdong Edition

Myeongdong is one of Korea’s most historic high streets. Supported by the growth of K-beauty, K-fashion, and K-medical industries, the high street has experienced a notable rebound in foreign tourist arrivals since the pandemic. With vacancy rates remaining below 5% and hospitality performing strongly over the past two years, Myeongdong has reinforced its position as a leading tourism and retail hub. Sales on the high street have continued to trend upward, underpinned by a broad consumer base across all age groups. The high street’s balanced demand profile and sustained popularity among both domestic and international visitors highlight its strong growth potential going forward.