Changing Tourist Commercial Areas... After Myeongdong and Dongdaemun, 'Apgujeong and Seongsu' Are Rising

Sales in Apgujeong and Seongsu Areas Increased 10 Times from January to June This Year
Many Young Tourists Search for 'Hot Places' via SNS
Families in Myeongdong and Dongdaemun, MZ Generation Gather in Apgujeong and Seongsu

Through the COVID-19 pandemic, Seoul's tourism commercial districts have become more diverse than before. While traditional commercial areas such as Myeongdong, Dongdaemun, and Hongdae still maintain strong demand, recently, Apgujeong and Seongsu, popular on social networking services (SNS), have emerged as "rising commercial districts."

According to CJ Olive Young on the 5th, from January to June this year, sales to foreign tourists at Olive Young stores in Apgujeong and Seongsu increased more than tenfold compared to the same period last year, and the number of foreign visitors increased more than eightfold. Previously distant from major commercial districts, Apgujeong and Seongsu have seen a significant rise in foreign sales as they have become "hot spots" for the MZ generation (Millennials + Generation Z) after COVID-19. Olive Young analyzes that these districts have newly emerged as young foreign tourists increasingly tend to search for local hot spots or restaurants visited by K-pop stars through YouTube and Instagram instead of guidebooks.

The area in front of Olive Young Myeongdong flagship store is bustling with foreign tourists.
[Photo by CJ Olive Young]

There were also differences in the characteristics of tourists and main products sold by commercial district. Traditional commercial districts like Myeongdong and Dongdaemun were bustling with family tourists, while emerging districts like Apgujeong and Seongsu were mainly frequented by tourists in their 20s. Additionally, in Apgujeong and Seongsu areas, functional cosmetics, emerging color cosmetics brands, inner beauty products, and beauty tools sold well, whereas basic cosmetics remained strong in traditional commercial districts.

An Olive Young official said, "Due to the Korean market's sensitivity to trends, domestic cosmetic brands quickly incorporate feedback on formulations, functions, and packaging to develop products. This strength, introduced through social media, seems to be receiving a good response in the global market as well." He added, "As Olive Young is recognized as a representative K-beauty shopping space for foreign tourists, we plan to continue discovering excellent domestic emerging brands and introduce them to global customers."