"Platform Companies Changing Urban Paradigms... Transforming Offline Spaces"

Martial Arts CEO Breakfast Meeting Featuring Lecture by Seoul National University Professor Kim Kyung-min

Professor Kim Kyung-min of the Graduate School of Environmental Studies at Seoul National University is giving a lecture at the "154th KITA CEO Breakfast Meeting" held online by the Korea International Trade Association on the 27th. (Photo by Korea International Trade Association)

[Asia Economy Reporter Jeong Hyunjin] The Korea International Trade Association (KITA) held the "154th KITA CEO Breakfast Meeting" online on the 27th and conducted a lecture on the theme of "Paradigm Shift in Urban Space."

Professor Kim Kyungmin of the Graduate School of Environmental Studies at Seoul National University, who was the speaker, stated that since the mid-2010s, the ecosystem of urban spaces has been changing, and "platform companies that had only operated online are now paying close attention to offline spaces and transforming cities together."

Professor Kim explained, "With the emergence of social networking service (SNS) platforms, consumers have started to consume spaces and cities as images, and a consumer culture has developed where people visit specific places to post on SNS." He added, "As a result, spaces that were originally intended for sales are transforming into spaces for experience and display, and 'reverse digitalization' is occurring where online companies open offline stores to provide customers with experiential opportunities."

He continued, "In the 20th century, residential houses, shops, and offices were located in downtown areas, but in the 21st century, logistics centers are entering downtown instead of shops." He also noted, "While industries such as department stores and shopping malls face crises due to online shopping malls, e-commerce companies are satisfying consumers with faster delivery by securing logistics centers throughout downtown areas."

Professor Kim predicted, "With the growth of platform companies, the existing 'service city' is rapidly transitioning into a 'platform city.' Although there was a brief pause at the beginning of the COVID-19 pandemic, platform companies that have succeeded in a swift 'J'-shaped recovery will continue to bring tremendous changes to offline spaces."