- Located in Seomyeon Medical Street, the center of K-medical... Judith Taehwa benefits from Musinsa store effect nearby
- Specialized space design increases exclusive rate to about 83%... Reasonable sale price and rent make rental income worth considering
The 'Medisimjeon Medical Building,' a newly constructed building with unprecedented scale and design in 15 years, has grandly opened and is successfully undergoing sales in the heart of Seomyeon, Busan's representative commercial district centered on medical, business, finance, and commerce, with an average daily floating population of 470,000 people.
Located in Bujeon-dong, Busanjin-gu, Busan, the 'Medisimjeon Medical Building' consists of 14 floors above ground. The dedicated commercial parking lot is provided as an annex, accommodating 1 self-parking space and 54 mechanical parking spaces.
■ Located in Seomyeon Medical Street, the center of K-Medical
The 'Medisimjeon Medical Building' is situated at the entrance of the alley in Seomyeon Medical Street, allowing for high promotional effects immediately upon opening clinics. With various medical departments planned to move in, it is expected to attract crowds comparable to large hospitals.
Seomyeon Medical Street, where the 'Medisimjeon Medical Building' is located, is the nation's first medical-specialized street, forming a cluster of hundreds of medical institutions and serving as a genuine medical hub. Given the presence of excellent medical institutions with accumulated medical knowledge and experience rarely found anywhere else in the world, it is anticipated that not only Busan citizens but also international customers will visit for medical tourism.
Last year, the number of foreign patients visiting Korea reached 248,000, rapidly recovering to 50% of the pre-COVID-19 pandemic level. Supported by the government's K-medical industry promotion policies, the 'Medisimjeon Medical Building' is expected to benefit significantly.
- Photo description: Musinsa scheduled to be established next to Judith Taehwa in the Medisimjeon Medical Building
■ Expected 'Musinsa' effect to lead the revival of Seomyeon commercial district
The 'Medisimjeon Medical Building' is located right next to Judis Taehwa, once Busan's number one meeting spot.
Judis Taehwa is known to be preparing vigorously for the opening of Musinsa Standard, the offline store of Musinsa, Korea's largest online curated store, aiming for a launch in the second half of the year, including recruiting staff. This is expected to absorb the floating population and have a ripple effect on the area.
Currently, Musinsa's offline stores are only in Hongdae, Gangnam, and the upcoming Daegu Dongseong-ro branch. The Gangnam store, which opened earlier, attracted 8,000 visitors over three days, demonstrating Musinsa's popularity. Recently, within Seomyeon 2nd Street, where Judis Taehwa is located, the popularity of commercial spaces near Jeonpo Cafe Street has been relatively increasing. However, with the planned opening of the Musinsa store inside Judis Taehwa, a significant ripple effect on the surrounding commercial district is expected.
Additionally, the 'Medisimjeon Medical Building' can also absorb demand from domestic and international tourists visiting Lotte Department Store Busan Main Branch, Lotte Duty Free, Jeonpo Cafe Street, and Jeonpo Saetgil, promising stable revenue.
■ Spacious usable area and reasonable price for stable rental income
The 'Medisimjeon Medical Building' features specialized spatial design tailored for business types, emphasizing practicality and efficiency. With a net-to-gross ratio of about 83%, the usable area is very spacious, allowing investors who plan to lease out the property later to expect stable rental income without vacancy concerns due to the abundant floating population.
The reasonable sale price also increases its appeal. The price per pyeong (3.3 square meters) of exclusive area is 36.59 million KRW, set at a reasonable level compared to the surrounding Seomyeon commercial district market prices. Rental fees are also reasonably formed, reducing the price burden. Moreover, since the building is already completed, operation can begin immediately after contract signing.
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