Endless COVID Tunnel... Specialized Shopping Districts Also Sigh

Tens of Thousands Won Amplifiers Sold for 30,000 Won
New Products Not Selling, Only Used Items Piling Up
One Store in Sewoon Sangga Sees 70% Drop in Sales
Nakwon Sangga Also Experiences More Than 75% Decrease

On the afternoon of the 5th, used amplifiers were piled up in the corridor inside Sewoon Sangga, Jung-gu, Seoul, where audio equipment specialty stores are located.

"30,000 won? I wonder if there will even be space to store it."

Amplifiers (devices that boost output to speakers), which usually sell for hundreds of thousands of won, have become unwanted even as cheap used items. On the afternoon of the 5th, at Sewoon Sangga in Jung-gu, Seoul, where stores specializing in audio equipment such as amplifiers, speakers, and microphones are located, Kim (54), who runs a wholesale business specializing in audio equipment, lamented, "We need a place to store used products, but now there’s nowhere suitable. No one wants to buy new ones, and only more people are asking us to please take their used products off their hands."

Wholesale stores, which act as middle distributors, have suffered delayed impacts so much that this year feels like the "first year of COVID-19." Kim said, "Last year, supply of audio equipment was maintained thanks to planned new building constructions and installations, but this year, even that is gone. Especially recently, with performances halted, demand has dropped further," adding, "Sales have fallen by about 60-70% compared to previous years."

Specialized shopping centers have also sighed under social distancing measures due to the prolonged COVID-19 pandemic. Sewoon Sangga and Nakwon Sangga, located in downtown Seoul, are representative examples. Customers who used to gather from all over the country to visit these specialized stores have disappeared, and the corridors of the shopping centers have become like graveyards piled with used products.

There were also complaints despite government support. Seo Hyomyung (61, pseudonym), who sells karaoke equipment, said, "Government subsidies did not differentiate between wholesale and retail or sales scale," adding, "Even if annual sales are under 400 million won, the extent of damage varies greatly, but it seems this was not taken into account."

On the afternoon of the 5th, there were hardly any customers visible inside Nakwon Sangga, which specializes in musical instruments and audio equipment.

The atmosphere is the same at Nakwon Sangga, which specializes in musical instruments and audio equipment. When visiting Nakwon Sangga that afternoon, it was clear that it had taken a direct hit from COVID-19. Inside, it was quiet, and merchants were passing time by working on computers or looking at their phones while waiting for customers.

Lee Hyukjae (50), who mainly deals with wind and string instruments, lamented that customers looking for instruments have drastically decreased since COVID-19. Although customer visits had already declined before, sales plummeted after the COVID-19 outbreak. He said, "People involved in education businesses or students come to buy instruments, but since arts and performances have stopped, the number of customers has greatly decreased," adding, "Compared to before COVID-19, sales have dropped to less than a quarter."

Another Kim, who sells pianos, also said, "As fewer people visit Nakwon Sangga, naturally sales have decreased," adding, "In our case, sales have dropped by about half, but many places have been hit even harder."

Lee Hyunghee (68), who has been renting and selling drums, speakers, and other audio equipment at Nakwon Sangga for 36 years, explained that he has never seen a recession like this before. Sighing throughout the conversation, he said that more than 10 nearby stores have closed due to poor business. Lee said, "We do business targeting entertainment venues like colateks, nightclubs, and karaoke bars, but since they have closed due to gathering bans, sales are almost nonexistent," adding, "The damage is so severe that even if COVID-19 ends, recovery seems impossible."