DDP Turns 10, Achieves Record Revenue and Highest Number of Visitors

Last Year's Total Revenue 16.6 Billion KRW · 74% Operating Rate
Record 13.75 Million Visitors Since Opening
This Year's Rental Reservation Rate Also Exceeds 70%

With its streamlined exterior reminiscent of a spaceship, DDP (Dongdaemun Design Plaza), which has been recognized as an innovative architectural landmark since its opening in 2014, will celebrate its 10th anniversary this March. Having established itself as a premier exhibition and event venue representing Seoul, DDP highlighted the significance of its 10th anniversary by recording its highest performance ever last year.

DDP (Dongdaemun Design Plaza), celebrating its 10th anniversary this year.
[Photo by Seoul Design Foundation]

On the 11th, the Seoul Design Foundation, which operates DDP, announced that last year DDP achieved the highest number of visitors, maximum utilization rate, and operating revenue since its opening. The reservation rate for 2024 rentals also exceeded 70%, and the foundation expects DDP’s streak of strong performance to continue this year.

Following the end of COVID-19, DDP’s total revenue last year reached 16.6 billion KRW, and its utilization rate hit 74%, ranking it among the top domestic rental facilities alongside Gangnam COEX (75%). Excluding maintenance periods and holidays, the exhibition halls were essentially fully booked throughout the year.

Among last year’s revenue, rental income (10.7 billion KRW) accounted for the largest share at 64%, followed by leasing (3.7 billion KRW), parking (1.7 billion KRW), and others (0.5 billion KRW). Based on these statistics, DDP achieved a financial self-sufficiency rate of 105.9% in facility operations last year. The foundation explained that the increase in revenue was reinvested into DDP’s own content such as ‘Seoul Light,’ creating a virtuous cycle that boosted visitor numbers.

Approaching its 10th anniversary, DDP has become a landmark in Seoul attracting over 10 million visitors annually. Last year, the media art festival ‘Seoul Light,’ held every winter, was conducted twice in autumn and winter, further increasing visitors and reaching a record high of 13.75 million since its opening. In particular, during the ‘Seoul Light’ event in September last year, 60,000 people visited DDP in a single day to see the aurora media art covering the grassy hill.

Visitor trends at DDP and financial status of facility operations graph. [Graph = Seoul Design Foundation]

DDP was designed by world-renowned architect Zaha Hadid and took seven years to complete before opening in March 2014. From its opening, it became a global landmark, hosting events for world-class brands such as Chanel and Dior, as well as prominent domestic and international figures like Alessandro Mendini. Following the Chanel Cruise Collection show and the Dior Spirit exhibition, the fashion icon Jean-Paul Gaultier’s fashion show and exhibition were held, leading to DDP being selected in 2015 by The New York Times as one of the ‘52 Places to Go.’

As K-culture gains global attention, DDP has recently been used as a filming location for K-pop stars’ music videos and dramas, and has emerged as Asia’s leading MICE (Meetings, Incentives, Conferences, and Exhibitions) facility attracting interest from global brands and corporations.

According to the foundation, in October last year, the global consulting firm McKinsey, which held the World Management Meeting at DDP, requested government-level cooperation, stating, “If not DDP, we would hold the meeting in another country.” Additionally, director Tim Burton, who held an exhibition last year, said, “I have always adhered to the principle of exhibiting only once in a city, but I broke that rule because I really wanted to exhibit at DDP,” and added, “It is an immense honor to fulfill my wish to exhibit in a building designed by the respected Zaha Hadid.”

Lee Kyung-don, CEO of the Seoul Design Foundation, said, “DDP is the facility that most representatively showcases ‘Seoul’s charm’ and is undoubtedly playing a key role as a landmark of Seoul,” adding, “Building on the record-breaking achievements of 2023, we will continue to increase financial self-sufficiency and consistently plan and attract world-class exhibitions and events to offer high-quality content to Seoul citizens.”