[Seongsu-dong, Hip+] Fashion, F&B, Automotive... Why People Visit 'I Got' Regardless of Field

Handmade Shoe Street Coexists with Luxury & Fashion Platform Stores, Restaurants & Cafes
Past, Present, and Future in One Place... A Unique Spirit in a 'Hip Place'
Dramatic Transformation of an Area Once Filled with Warehouses, Factories, and Repair Shops
Emerging Designers and Brands Embark on 'New Experiments' with Dreams

Visitors are taking commemorative photos in front of 'Dior Seongsu' in Seongsu-dong 2-ga, Seongdong-gu, Seoul.

[Asia Economy Reporter Yuri Kim] On a weekday afternoon, I visited Seongsu-dong, Seongdong-gu, Seoul, known as the 'Brooklyn of Korea.' The area was bustling with nearby office workers, residents, and foreign tourists all mingling together. I stopped in the middle of Yeonmujang-gil near 'Dior Seongsu,' a hotspot for taking 인증샷 (proof shots). Looking straight ahead from here, old factories and warehouses were visible, while turning around in the same spot revealed a row of cafes, wine bars, and grocery stores.

Seongsu-dong is regarded as a successful example of urban regeneration, as it reproduces the essence of Brooklyn's urban renewal in New York City. Past, present, and future coexist in one space, attracting the MZ generation (Millennials + Generation Z), who have valued rarity for several years. Consequently, various brands targeting the MZ generation?from luxury goods to designer brands, fashion and beauty, food and beverage (F&B), automobiles, and IT?have accelerated their footsteps toward Seongsu.

◆Seongsu, Becoming the 'Brooklyn of Korea'

Seongsu-dong was a semi-industrial area that led Seoul's economic growth in the 1970s, but as the industry declined, old buildings and abandoned factories increased. In 2014, Seoul City designated Seongsu-dong as an urban regeneration pilot project area to prevent urban slumification in Seongdong-gu. Former warehouses transformed into cafes, marking its rise as a cultural street. Starting with Daerim Warehouse, a warehouse-style gallery cafe opened in 2011, 'Blue Bottle,' known as the 'Apple of coffee,' also opened its first domestic store at the entrance of Seongsu-dong. With ongoing art exhibitions and performances, the 20s and 30s demographic began frequenting the area.

Under the support of Seongdong-gu, young entrepreneurs settled here. Although the scale has decreased compared to before, handcrafted shoes made by artisans remain a symbol of Seongsu-dong, and as young designers gathered, coexistence became full-fledged, and the commercial district expanded. Recently, with the perception that the 'newtro' culture?where 'old things' and 'the most contemporary things' coexist?is hip, more companies are visiting to utilize this for marketing purposes.

◆From Luxury to Designer Brands, 'Seongsu Spirit Captivates'

In the alleys of Seongsu-dong, a variety of stores are established, from overseas luxury brand pop-up stores to showrooms of emerging designer brands. For these brands, Seongsu-dong is especially attractive as a place imbued with fashion, culture, and artistic spirit, continuously visited by the 20s and 30s generation to enjoy these aspects. In May, the French luxury brand Dior opened its concept store, Dior Seongsu, which is crowded with visitors regardless of weekdays or weekends. Visitors flock to take 인증샷 against the exotic exterior. Opposite Dior Seongsu stands a factory building with a Gravity mural painted on its wall, creating a unique atmosphere.

Beaker Seongsu, opened by Samsung C&T on the 18th, surpassed 10,000 visitors within a week of opening. Studio Tomboy, a fashion brand under Shinsegae International, also operated a pop-up store at Future Society in Seongsu-dong, attracting over 3,000 visitors on the 19th and 20th. Many visitors also came to Moncler's 'Extraordinary Exploration' world tour exhibition held at the D Museum in Seongsu-dong until the 22nd. They unanimously stated that the stores were established as spaces providing new experiences to MZ generation consumers visiting Seongsu-dong. Beaker plans to utilize the Seongsu store to quickly introduce a variety of brands and discover brands that suit the tastes of the MZ generation, more so than its Cheongdam and Hannam stores.

Brands also use Seongsu-dong to imbue their products with a 'young and hip' image. This is why domestic and international automobile brands are entering Seoul's Seongsu-dong one after another. Kia Motors operates 'EV6 Unplugged Ground Seongsu,' offering not only experiences with the electric vehicle EV6 but also community programs for vehicle owners and monthly talk concerts sharing new electric vehicle technologies. Hyundai's 'Casper Studio Seongsu' and Mercedes-Benz Korea's 'EQE Seongsu' pop-ups were also created with similar purposes.

Convenience stores have also broken the existing mold. GS25, operated by GS Retail, opened a premium flagship store 'Door to Seongsu' in Seongsu-dong, showcasing only about 150 core private brand (PB) products and exclusive items, unlike typical stores. During the day, it operates as an emotional cafe concept where customers enjoy brewed coffee and desserts, and at night, it transforms into a pub concept selling beer and wine. The space also hosts pop-ups to introduce trendy products by rotating them.

Visitors are entering 'Beaker Seongsu Branch' in Seongsu-dong 2-ga, Seongdong-gu, Seoul.

◆Online Product Experience and Brand Culture Enjoyment: "Expansion of Experience"

Online platforms are utilizing Seongsu-dong, a symbolic area, as a 'lifestyle experience space' that the platform pursues. The concept is that the moment you enter the building, it feels like entering a magazine tailored to your tastes, where you can try on and touch clothes, accessories, and lifestyle items, and share culture while drinking coffee. A representative example is 'Igus Seongsu,' an offline select shop opened by the fashion platform 29CM in Seongsu-dong. Igus Seongsu, with a size of 340㎡ (about 103 pyeong), is a two-story building with the first floor consisting of a showroom, exhibition space, and cafe, and the second floor arranged as fitting rooms and brand exhibition halls. It aims to be an 'all five senses satisfaction curation showroom' beyond simple product sales. On-site purchases are not possible, but customers can buy products using QR codes attached to items through an application (app).

Market Kurly's 'Off Kurly,' launched in Seongsu-dong since September, also promotes itself as an experiential cultural space. To convey the message that 'you can have diverse and rich gourmet experiences with groceries provided by Kurly,' it operates docent (guided) programs featuring gourmet, humanities, and art content. Programs related to gourmet experiences using olive oil, among others, were fully booked for all sessions in September and October, showing great popularity.

Experts say that for 'hip Seongsu-dong' and 'Seongsu-dong continuously visited by young people' to persist, the region must constantly evolve new cultures, trends, and things to enjoy and feel at the local level. Professor Eunhee Lee of Inha University's Department of Consumer Studies said, "The coexistence of rundown factories and hip restaurants and cafes, along with unfamiliar elements, creates a subtle harmony that attracts the 20s and 30s generation, and companies follow to utilize Seongsu-dong's image and floating population." She added, "As development progresses, the distinctiveness from famous Gangnam areas may diminish, so this aspect requires consideration." She continued, "If large-scale capital enters in a standardized form, it could make the area boring, and rising rents could cause gentrification, pushing out existing merchants, so both the region and companies must be cautious. Experimental content should accompany this, and efforts should be made for sustainability, such as making even the building exteriors unique."

Professor Siwol Kim of Konkuk University's Department of Consumer Studies also said, "With its location by the Han River, accessibility, and nearby university areas as the main axis, the foundation for activating young people's consumption is established. It is necessary to continuously develop culture based on value consumption and experiences, which are recent trends."