"Everyone in the Know is Going": This Place Transformed into a 33 Trillion Won Goldmine in 10 Years [K-Holic]

Seongsu-dong Continues to Attract Foreign Tourists

Dozens of Pop-up Stores Open Every Month, Cementing Its Status as a Hotspot

Shopping, Experiences, and Social Media Moments — All in One Place

Editor's NoteInterest in Korean culture is rapidly growing around the world. Korean-related products and content, such as K-Food and K-Beauty, are permeating the daily lives of overseas consumers, extending beyond niche fan groups. [K-Holic] highlights the 'Korean wave' being captured across the globe and examines why international consumers are paying attention to Korea.

As the number of foreign tourists visiting Korea reaches an all-time high, Seongsu-dong in Seongdong-gu, Seoul, is rapidly emerging as a "must-visit course" in Seoul. Once an industrial area, Seongsu-dong has transformed over the past decade into a complex cultural district combining K-fashion, K-beauty, and pop-up stores, establishing itself as a "hot place" for foreign visitors.

6.77 Million Foreign Tourists by April, All-Time High... Increasing Visits to Seongsu-dong

Tourists who visited Gyeongbokgung Palace in Seoul on the 16th, following BTS's Gwanghwamun concert and other events, are capturing memories through commemorative photos. In the first quarter of this year, the number of foreign tourists visiting Korea recorded the highest ever for the same quarter. Photo by Yonhap News

According to the Ministry of Culture, Sports and Tourism, the cumulative number of foreign tourists visiting Korea from January to April this year reached 6.77 million. This figure represents a 21% increase compared to the same period last year (5.58 million), marking the highest ever for this timeframe. In April alone, 2.03 million foreign tourists visited Korea, a 19% increase year-on-year.

Along with the rise in foreign tourists, interest in Seongsu-dong is also growing rapidly. According to Seongdong-gu, more than 3 million foreign tourists visited Seongsu-dong in 2024, and it is estimated that over 5 million visited last year.

The upward trend continues this year. Data analysis from Korea Tourism Data Lab shows that from January to April this year, Seongsu 2(i)-ga 3-dong, home to the main Yeonmujang-gil commercial area, saw 923,921 foreign visitors. This is approximately a 73.6% increase compared to the same period last year (532,341).

From a Run-Down Factory District to a Trend Hub

Foreign tourists enjoying the hot place street in Seongsu-dong.

This popularity is closely tied to Seongsu-dong’s unique commercial structure. Originally, Seongsu-dong was known as an industrial area with a strongly neglected image. However, since the 2010s, the rapid creation of complex cultural spaces utilizing abandoned factories and warehouses has been changing the atmosphere. The concentration of remodeled factories and warehouses, complex cultural spaces, cafes, and select shops has turned the area into a hub of trendy consumer culture. Subsequently, Seongsu-dong earned nicknames such as "Brooklyn of Seoul" and "hipster's mecca," attracting a younger crowd.

In particular, the expansion of pop-up store culture in the 2020s brought another wave of positive change to Seongsu-dong. After the COVID-19 pandemic, brands wary of operating permanent stores began to focus on short-term pop-ups, and Seongsu-dong became the center of this trend. According to pop-up store specialist SweetSpot, between 70 and 100 pop-up stores have opened in Seongsu-dong every month so far this year.

Visiting the 'Oldamu' After Eating Out... A Mecca for K-Beauty & K-Fashion

Foreigners choosing cosmetics at Olive Young. Photo by Younghan Heo younghan@

One major strength of Seongsu-dong is that visitors can enjoy shopping and experiences all at once. After visiting popular restaurants and cafes, consumers naturally continue shopping at so-called "Oldamu" stores—Olive Young, Daiso, and Musinsa. In addition, the major commercial areas are clustered within walking distance, making it easy for foreign tourists to explore multiple spaces without hassle.

During the "Northeast Asia Golden Holiday," when Japan's Golden Week (April 29–May 6) and China's Labor Day holiday (May 1–5) overlapped, combined sales at Musinsa Standard Seongsu and Musinsa Store Seongsu Edit Shop increased by over 41% compared to the previous week, thanks to the influx of foreign visitors.

The Olive YoungN Seongsu branch is also known for having a similar ratio of domestic and foreign visitors. However, it is reported that about 70% of its sales come from foreign tourists. The growing number of foreign visitors making bulk purchases of K-beauty products appears to be contributing to the overall sales growth.

Meanwhile, a study found that the economic value of Seongsu-dong increased by more than 33 trillion won over the past decade. According to the "Economic Value Analysis of Seongsu District" commissioned by Seongdong-gu to the Hanyang University Industry-Academic Cooperation Foundation in January, Seongsu-dong’s economic value rose by approximately 33.3 trillion won compared to 2014. This analysis was based on a comprehensive review of corporate sales, employee wages, and visitor spending in the Seongsu area over the past 10 years. The economic value of the region increased by about 27 trillion won, and the resulting economic ripple effect grew by 6.3 trillion won.

This content was produced with the assistance of AI translation services.